Veren (TSE:VRN) Cut to “Tender” at Desjardins

Desjardins downgraded shares of Veren (TSE:VRN) from a buy rating to a tender rating in a report published on Tuesday,BayStreet.CA reports. Desjardins currently has C$12.60 price target on the stock, up from their previous price target of C$11.00.

A number of other equities research analysts have also weighed in on the stock. National Bankshares raised their price objective on shares of Veren from C$12.50 to C$13.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. CIBC reduced their price objective on shares of Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Royal Bank of Canada reduced their price objective on shares of Veren from C$10.00 to C$9.75 and set an “outperform” rating on the stock in a report on Tuesday. Finally, ATB Capital cut their price target on shares of Veren from C$11.00 to C$9.50 in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$11.74.

Veren Price Performance

Shares of VRN stock opened at C$8.65 on Tuesday. Veren has a 52 week low of C$6.34 and a 52 week high of C$12.67. The stock has a market cap of C$5.30 billion and a PE ratio of 4.93. The firm has a 50 day simple moving average of C$7.56.

Veren Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.46 annualized dividend and a yield of 5.32%.

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.