Veren (TSE:VRN) Trading Up 15.4% – Should You Buy?

Veren Inc. (TSE:VRN)’s stock price rose 15.4% during trading on Monday . The stock traded as high as C$8.36 and last traded at C$8.15. Approximately 11,587,658 shares changed hands during trading, an increase of 172% from the average daily volume of 4,258,240 shares. The stock had previously closed at C$7.06.

Analyst Ratings Changes

VRN has been the subject of a number of analyst reports. CIBC decreased their target price on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. National Bankshares raised their price objective 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$11.83.

Veren Stock Up 16.0 %

The stock has a fifty day moving average price of C$7.49. The firm has a market cap of C$5.02 billion and a P/E ratio of 4.66.

Veren Announces Dividend

The business also recently announced 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 5.62%. The ex-dividend date 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.