Veren (TSE:VRN) Price Target Lowered to C$13.00 at National Bankshares

Veren (TSE:VRN) had its price objective trimmed by National Bankshares from C$13.50 to C$13.00 in a report released on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on VRN. BMO Capital Markets decreased their target price on Veren from C$14.00 to C$11.00 and set an “outperform” rating for the company in a report on Friday. CIBC decreased their price objective on shares of Veren from C$15.00 to C$13.00 in a research note on Friday. Raymond James cut their target price on shares of Veren from C$13.00 to C$12.00 and set a “strong-buy” rating on the stock in a research note on Friday. Scotiabank decreased their price target on shares of Veren from C$12.00 to C$11.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Canaccord Genuity Group cut their price objective on Veren from C$15.00 to C$14.00 in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$11.89.

Veren Price Performance

VRN stock traded down C$0.23 during trading on Friday, reaching C$6.94. 9,067,202 shares of the stock traded hands, compared to its average volume of 3,155,478. Veren has a 52-week low of C$6.84 and a 52-week high of C$12.67.

Veren Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be issued a $0.115 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.46 annualized dividend and a yield of 6.63%.

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.