Veren (TSE:VRN) Stock Price Up 15.7% – Time to Buy?

Veren Inc. (TSE:VRN)’s stock price rose 15.7% during mid-day trading on Monday . The stock traded as high as C$8.39 and last traded at C$8.17. Approximately 19,597,803 shares traded hands during mid-day trading, an increase of 338% from the average daily volume of 4,470,405 shares. The stock had previously closed at C$7.06.

Analyst Ratings Changes

A number of brokerages recently weighed in on VRN. CIBC cut their price objective on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. 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. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$11.83.

Veren Price Performance

The stock’s fifty day moving average price is C$7.49. The firm has a market capitalization of C$5.02 billion and a P/E ratio of 4.66.

Veren Announces Dividend

The firm 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 dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 5.62%. The ex-dividend date is Friday, March 14th.

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.