Veren (TSE:VRN) Stock Price Up 16.3% – What’s Next?

Veren Inc. (TSE:VRN)’s stock price rose 16.3% during trading on Monday . The company traded as high as C$8.39 and last traded at C$8.21. Approximately 14,841,724 shares changed hands during trading, an increase of 244% from the average daily volume of 4,314,159 shares. The stock had previously closed at C$7.06.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. CIBC decreased their target price on shares of Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. Royal Bank of Canada decreased their price objective on Veren from C$10.00 to C$9.75 and set an “outperform” rating on the stock in a report on Tuesday. Desjardins cut Veren from a “buy” rating to a “tender” rating and increased their target price for the stock from C$11.00 to C$12.60 in a report on Tuesday. ATB Capital cut their target price on Veren from C$11.00 to C$9.50 in a research report on Tuesday. Finally, National Bankshares upped their price target on Veren from C$12.50 to C$13.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$11.74.

Veren Stock Up 3.2 %

The stock’s 50-day simple moving average is C$7.51. The stock has a market cap of C$5.18 billion and a PE ratio of 4.81.

Veren Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 5.44%. The ex-dividend date is Friday, March 14th.

Veren Company Profile

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.