Veren (TSE:VRN) Trading Up 13.9% – Here’s Why

Veren Inc. (TSE:VRN) shares traded up 13.9% on Monday . The company traded as high as C$8.36 and last traded at C$8.04. 5,251,652 shares were traded during mid-day trading, an increase of 28% from the average session volume of 4,116,081 shares. The stock had previously closed at C$7.06.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on VRN shares. CIBC decreased their target price on Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. National Bankshares lifted their price objective on shares of Veren from C$12.50 to C$13.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Six investment 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 has a consensus rating of “Buy” and a consensus target price of C$11.83.

Veren Stock Performance

The firm has a market cap of C$5.03 billion and a price-to-earnings ratio of 4.68. The stock has a fifty day moving average of C$7.49.

Veren Announces Dividend

The business also recently declared 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. This represents a $0.46 annualized dividend and a yield of 5.60%. 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.