Veren (TSE:VRN) Stock Price Up 15.9% – Time to Buy?

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

Wall Street Analysts Forecast Growth

VRN has been the topic of several research analyst reports. National Bankshares boosted 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 dropped their target price on Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$11.83.

Veren Stock Up 16.0 %

The company has a market cap of C$5.02 billion and a PE ratio of 4.66. The stock has a 50 day simple moving average of 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 dividend yield of 5.62%. 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.