Royal Bank of Canada Lowers Veren (TSE:VRN) Price Target to C$10.00

Veren (TSE:VRN) had its target price trimmed by Royal Bank of Canada from C$12.00 to C$10.00 in a research report report published on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. CIBC cut their price objective on shares of Veren from C$15.00 to C$13.00 in a research report on Friday. Scotiabank cut their target price on Veren from C$12.00 to C$11.00 and set an “outperform” rating on the stock in a research note on Friday. Canaccord Genuity Group reduced their target price on shares of Veren from C$15.00 to C$14.00 in a report on Tuesday, October 22nd. Raymond James reduced their price objective on shares of Veren from C$13.00 to C$12.00 and set a “strong-buy” rating for the company in a research note on Friday. Finally, National Bankshares lowered their target price on Veren from C$13.50 to C$13.00 and set an “outperform” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$11.89.

Veren Trading Down 3.2 %

VRN stock traded down C$0.23 during midday trading on Friday, hitting C$6.94. 9,067,202 shares of the company’s stock were exchanged, compared to its average volume of 3,155,478. Veren has a one year low of C$6.84 and a one year high of C$12.67.

Veren Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.115 per share. The ex-dividend date is Friday, December 13th. This represents a $0.46 annualized dividend and a dividend yield of 6.63%.

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.