Veren Inc. (NYSE:VRN) Increases Dividend to $0.09 Per Share

Veren Inc. (NYSE:VRN) declared a quarterly dividend on Thursday, October 31st, Zacks reports. Investors of record on Sunday, December 15th will be given a dividend of 0.085 per share on Thursday, January 2nd. This represents a $0.34 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date is Friday, December 13th. This is an increase from Veren’s previous quarterly dividend of $0.08.

Veren Price Performance

NYSE VRN traded down $0.03 during mid-day trading on Friday, reaching $5.13. 1,583,847 shares of the stock were exchanged, compared to its average volume of 4,498,690. The stock has a market cap of $3.16 billion, a PE ratio of -85.90 and a beta of 2.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49. Veren has a one year low of $4.99 and a one year high of $9.28. The company has a 50 day moving average of $6.44.

Analyst Upgrades and Downgrades

VRN has been the topic of several research reports. Scotiabank dropped their price objective on shares of Veren from $16.00 to $15.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Raymond James initiated coverage on Veren in a report on Friday, October 18th. They set a “strong-buy” rating and a $13.00 price objective for the company.

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.