Veren Inc. (TSE:VRN) Receives C$11.83 Consensus PT from Brokerages

Shares of Veren Inc. (TSE:VRN) have been assigned a consensus rating of “Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$11.74.

Several equities analysts recently issued reports on the stock. CIBC dropped their target price on shares of Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Royal Bank of Canada dropped their target price on shares of Veren from C$10.00 to C$9.75 and set an “outperform” rating on the stock in a report on Tuesday. Desjardins lowered shares of Veren from a “buy” rating to a “tender” rating and boosted their target price for the company from C$11.00 to C$12.60 in a report on Tuesday. ATB Capital dropped their target price on shares of Veren from C$11.00 to C$9.50 in a report on Tuesday. Finally, National Bankshares boosted their target price on shares of Veren from C$12.50 to C$13.00 and gave the company an “outperform” rating in a report on Thursday, January 30th.

Veren Trading Up 3.7 %

VRN stock opened at C$8.76 on Thursday. The firm has a market capitalization of C$5.37 billion and a price-to-earnings ratio of 4.99. Veren has a 12-month low of C$6.34 and a 12-month high of C$12.67. The firm has a fifty day moving average price of C$7.53.

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 issued a $0.115 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.25%.

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.