Veren (TSE:VRN) Stock Price Up 13.9% – Should You Buy?

Veren Inc. (TSE:VRN) traded up 13.9% on Monday . The company traded as high as C$8.36 and last traded at C$8.04. 5,251,652 shares were traded during mid-day trading, an increase of 28% from the average session volume of 4,116,081 shares. The stock had previously closed at C$7.06.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VRN. ATB Capital dropped their price objective on shares of Veren from C$11.00 to C$9.50 in a research note on Tuesday. Desjardins downgraded shares of Veren from a “buy” rating to a “tender” rating and lifted their price target for the stock from C$11.00 to C$12.60 in a research note on Tuesday. Royal Bank of Canada decreased their price objective on shares of Veren from C$10.00 to C$9.75 and set an “outperform” rating for the company in a research report on Tuesday. CIBC lowered their price objective on Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. Finally, National Bankshares upped their target price on shares of 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 given 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.

Veren Trading Up 3.2 %

The stock has a market cap of C$5.18 billion and a price-to-earnings ratio of 4.81. The firm has a 50-day moving average price of C$7.51.

Veren Announces Dividend

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

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.