Veren (TSE:VRN) Trading 16% Higher – What’s Next?

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VRN. National Bankshares lifted their price target on shares of Veren from C$12.50 to C$13.00 and gave the company 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. Six equities research 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 currently has a consensus rating of “Buy” and an average price target of C$11.83.

Veren Trading Up 16.0 %

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

Veren Dividend Announcement

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 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.