Veren (TSE:VRN) Trading 16% Higher – What’s Next?

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

Analyst Ratings Changes

A number of research analysts have recently commented on VRN shares. CIBC lowered their price objective on Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. National Bankshares lifted their price objective on Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$11.83.

Veren Stock Performance

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

Veren Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be issued a $0.115 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.46 annualized dividend and a dividend 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.