Royal Bank of Canada Issues Pessimistic Forecast for Veren (TSE:VRN) Stock Price

Veren (TSE:VRN) had its target price reduced by analysts at Royal Bank of Canada from C$10.00 to C$9.75 in a research report issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 16.35% from the company’s current price.

A number of other research firms also recently commented on VRN. ATB Capital reduced their target price on Veren from C$11.00 to C$9.50 in a report on Tuesday. National Bankshares raised their price target on shares of Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, CIBC lowered their target price on Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$11.74.

Veren Trading Up 2.3 %

Shares of TSE:VRN traded up C$0.19 during midday trading on Tuesday, hitting C$8.38. 9,491,778 shares of the company’s stock traded hands, compared to its average volume of 4,745,107. Veren has a twelve month low of C$6.34 and a twelve month high of C$12.67. The firm has a market capitalization of C$5.13 billion and a P/E ratio of 4.77. The firm has a fifty day moving average price of C$7.49.

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.