Veren (TSE:VRN) Given New C$12.50 Price Target at CIBC

Veren (TSE:VRN) had its price objective cut by CIBC from C$13.00 to C$12.50 in a research note issued to investors on Friday,BayStreet.CA reports.

Other equities analysts have also recently issued reports about the company. National Bankshares cut their target price on Veren from C$13.50 to C$13.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. BMO Capital Markets dropped their price objective on shares of Veren from C$14.00 to C$11.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Scotiabank decreased their target price on shares of Veren from C$12.00 to C$11.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. ATB Capital dropped their price target on shares of Veren from C$11.50 to C$11.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Raymond James decreased their price objective on Veren from C$13.00 to C$12.00 and set a “strong-buy” rating for the company in a report on Friday, November 1st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Veren currently has an average rating of “Buy” and an average target price of C$11.83.

Veren Stock Performance

Shares of TSE:VRN opened at C$7.91 on Friday. Veren has a 52-week low of C$6.34 and a 52-week high of C$12.67. The business has a 50 day moving average price of C$7.32.

Veren Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date was Friday, December 13th.

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.