Veren Inc. (TSE:VRN - Get Free Report)'s share price rose 16% during trading on Tuesday . The stock traded as high as C$8.39 and last traded at C$8.19. Approximately 27,269,131 shares were traded during trading, an increase of 486% from the average daily volume of 4,652,672 shares. The stock had previously closed at C$7.06.
Wall Street Analyst Weigh In
VRN has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price objective on Veren from C$10.00 to C$9.75 and set an "outperform" rating on the stock in a research report on Tuesday. ATB Capital decreased their price objective on Veren from C$11.00 to C$9.50 in a research note on Tuesday. CIBC decreased their price objective on Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. Desjardins downgraded Veren from a "buy" rating to a "tender" rating and raised their price objective for the stock from C$11.00 to C$12.60 in a research note on Tuesday. Finally, National Bankshares lifted their target price on Veren from C$12.50 to C$13.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of C$11.74.
Check Out Our Latest Stock Report on Veren
Veren Trading Up 1.4 %
The stock has a market cap of C$5.37 billion and a price-to-earnings ratio of 4.99. The business's fifty day moving average is C$7.58.
Veren Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date is Friday, March 14th.
About Veren
(
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Veren Inc explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.
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