Veren Inc. Plans Quarterly Dividend of $0.12 (TSE:VRN)

Veren Inc. (TSE:VRN) announced a quarterly dividend on Friday, March 14th, TickerTech Dividends reports. Shareholders of record on Tuesday, April 1st will be given a dividend of 0.115 per share on Tuesday, April 1st. This represents a $0.46 annualized dividend and a dividend yield of 5.35%. The ex-dividend date is Friday, March 14th.

Veren Stock Performance

Shares of Veren stock traded up C$0.15 during trading on Wednesday, reaching C$8.60. The company’s stock had a trading volume of 2,123,666 shares, compared to its average volume of 4,793,525. Veren has a 1-year low of C$6.34 and a 1-year high of C$12.67. The stock has a market capitalization of C$5.27 billion and a P/E ratio of 4.90. The company has a 50-day moving average price of C$7.51.

Analyst Ratings Changes

A number of brokerages recently issued reports on VRN. ATB Capital reduced their target price on Veren from C$11.00 to C$9.50 in a research note on Tuesday. National Bankshares upped their price objective on shares of Veren from C$12.50 to C$13.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Desjardins downgraded Veren from a “buy” rating to a “tender” rating and upped their target price for the stock from C$11.00 to C$12.60 in a research note on Tuesday. CIBC dropped their price target on shares of Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. Finally, Royal Bank of Canada dropped their target price on Veren from C$10.00 to C$9.75 and set an “outperform” rating on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Veren presently has a consensus rating of “Buy” and a consensus target price of C$11.74.

About Veren

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.