Veren (TSE:VRN) Trading 15.9% Higher – What’s Next?

Veren Inc. (TSE:VRN)’s stock price rose 15.9% during mid-day trading on Monday . The stock traded as high as C$8.39 and last traded at C$8.18. Approximately 14,926,928 shares traded hands during mid-day trading, an increase of 246% from the average daily volume of 4,314,159 shares. The stock had previously closed at C$7.06.

Wall Street Analyst Weigh In

Several brokerages have commented on VRN. National Bankshares raised their price objective on 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 lowered 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$11.83.

Veren Stock Performance

The stock has a market cap of C$5.02 billion and a PE ratio of 4.66. The company’s fifty day moving average is C$7.49.

Veren Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 5.62%. The ex-dividend date 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.