Veren (TSE:VRN) Trading Up 16% – Should You Buy?

Veren Inc. (TSE:VRN)’s share price was up 16% during trading on Tuesday . The stock traded as high as C$8.39 and last traded at C$8.19. Approximately 27,269,131 shares traded hands during mid-day trading, an increase of 486% from the average daily volume of 4,652,672 shares. The stock had previously closed at C$7.06.

Wall Street Analyst Weigh In

Several analysts have recently commented on VRN shares. CIBC lowered their price objective on Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. National Bankshares increased their price objective on Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$11.83.

Veren Price Performance

The firm has a market capitalization of C$5.02 billion and a P/E ratio of 4.66. The firm’s fifty day moving average is C$7.49.

Veren Announces Dividend

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 issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend is Friday, March 14th.

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.