Veren (TSE:VRN) Stock Price Up 14.9% – Time to Buy?

Veren Inc. (TSE:VRN)’s share price shot up 14.9% on Monday . The stock traded as high as C$8.39 and last traded at C$8.11. 17,339,819 shares were traded during trading, an increase of 293% from the average session volume of 4,417,027 shares. The stock had previously closed at C$7.06.

Wall Street Analyst Weigh In

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

Veren Stock Performance

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

Veren Announces Dividend

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 dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.62%.

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.