Veren (TSE:VRN) Trading 16% Higher – Still a Buy?

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

Analyst Ratings Changes

Several equities analysts have recently commented on VRN shares. CIBC lowered their target price on shares of Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. National Bankshares increased their price target 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. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$11.83.

Veren Trading Up 16.0 %

The firm has a market capitalization of C$5.02 billion and a P/E ratio of 4.66. The firm’s fifty day moving average price is C$7.49.

Veren Dividend Announcement

The company 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. This represents a $0.46 annualized dividend and a 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.