Veren (TSE:VRN) Stock Price Up 16% – What’s Next?

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VRN. National Bankshares upped their price target on shares of Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. CIBC dropped their target price on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Veren presently has an average rating of “Buy” and a consensus price target of C$11.83.

Veren Trading Up 16.0 %

The company has a fifty day simple moving average of C$7.49. The company has a market capitalization of C$5.02 billion and a price-to-earnings ratio of 4.66.

Veren Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be paid a $0.115 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.46 dividend on an annualized basis and a yield of 5.62%.

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.