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

Shares of Veren Inc. (TSE:VRN) were up 16% during trading on Tuesday . The company traded as high as C$8.39 and last traded at C$8.19. Approximately 27,269,131 shares changed hands during trading, an increase of 486% from the average daily volume of 4,652,672 shares. The stock had previously closed at C$7.06.

Analysts Set New Price Targets

A number of analysts have commented on VRN shares. National Bankshares boosted 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. CIBC dropped their price target on shares of Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. ATB Capital dropped their price target on shares of Veren from C$11.00 to C$9.50 in a research report on Tuesday. Royal Bank of Canada dropped their price target on shares of Veren from C$10.00 to C$9.75 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Desjardins downgraded shares of Veren from a “buy” rating to a “tender” rating and boosted their price target for the stock from C$11.00 to C$12.60 in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$11.74.

Veren Trading Up 3.7 %

The company has a 50 day moving average of C$7.53. The firm has a market capitalization of C$5.37 billion and a P/E ratio of 4.99.

Veren Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend is Friday, March 14th.

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.