Veren (TSE:VRN) Stock Price Up 15.9% – Here’s What Happened

Veren Inc. (TSE:VRN)’s share price shot up 15.9% during trading on Monday . The stock traded as high as C$8.39 and last traded at C$8.18. 14,926,928 shares changed hands during mid-day trading, an increase of 246% from the average session volume of 4,314,159 shares. The stock had previously closed at C$7.06.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VRN. National Bankshares raised their target price on Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. CIBC cut their price target on Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$11.83.

Veren Stock Up 16.0 %

The firm has a market capitalization of C$5.02 billion and a PE ratio of 4.66. The company has a 50 day moving average of C$7.49.

Veren Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be issued a $0.115 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.46 annualized dividend and a dividend yield of 5.62%.

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.