Veren (TSE:VRN) Shares Up 16% – Still a Buy?

Veren Inc. (TSE:VRN) shares traded up 16% during mid-day trading on Monday . The stock traded as high as C$8.39 and last traded at C$8.19. 27,269,131 shares changed hands during mid-day trading, an increase of 498% from the average session volume of 4,557,683 shares. The stock had previously closed at C$7.06.

Analyst Ratings Changes

Several equities research analysts have commented on VRN shares. National Bankshares boosted 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. CIBC reduced their price objective on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$11.83.

Veren Stock Performance

The company has a market capitalization of C$5.02 billion and a price-to-earnings ratio of 4.66. The business has a 50-day moving average of C$7.49.

Veren Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.46 dividend on an annualized basis and a yield of 5.62%.

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.