Veren (TSE:VRN) Shares Down 7.1% – Should You Sell?

Veren Inc. (TSE:VRN)’s stock price was down 7.1% on Thursday . The stock traded as low as C$7.64 and last traded at C$7.69. Approximately 1,353,028 shares were traded during trading, a decline of 72% from the average daily volume of 4,870,908 shares. The stock had previously closed at C$8.28.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Desjardins cut shares of Veren from a “buy” rating to a “tender” rating and lifted their price objective for the stock from C$11.00 to C$12.60 in a research note on Tuesday, March 11th. ATB Capital decreased their price target on shares of Veren from C$11.00 to C$9.50 in a research report on Tuesday, March 11th. Royal Bank of Canada cut their price objective on Veren from C$10.00 to C$9.75 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. National Bankshares lifted their target price on Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, CIBC reduced their target price on Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$11.74.

Veren Trading Down 9.2 %

The firm has a market cap of C$4.61 billion and a price-to-earnings ratio of 4.28. The firm’s fifty day simple moving average is C$8.10.

Veren Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date was Friday, March 14th. This represents a $0.46 annualized dividend and a yield of 6.12%.

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.