Veren (TSE:VRN) Stock Price Up 16% – What’s Next?

Veren Inc. (TSE:VRN)’s stock price traded up 16% during trading on Monday . The company traded as high as C$8.39 and last traded at C$8.19. 27,269,131 shares changed hands during trading, an increase of 498% from the average session volume of 4,557,683 shares. The stock had previously closed at C$7.06.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. ATB Capital lowered their target price on shares of Veren from C$11.00 to C$9.50 in a research note on Tuesday. Royal Bank of Canada lowered their price objective on Veren from C$10.00 to C$9.75 and set an “outperform” rating on the stock in a research note on Tuesday. Desjardins cut Veren from a “buy” rating to a “tender” rating and increased their target price for the stock from C$11.00 to C$12.60 in a report on Tuesday. CIBC decreased their price target on Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. Finally, 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 investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$11.74.

Veren Stock Up 3.7 %

The company’s fifty day moving average price is C$7.53. The firm has a market capitalization of C$5.37 billion and a price-to-earnings ratio of 4.99.

Veren Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.25%. 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.