Veren (TSE:VRN) Trading 15.9% Higher – Time to Buy?

Shares of Veren Inc. (TSE:VRN) were up 15.9% during trading on Monday . The company traded as high as C$8.39 and last traded at C$8.18. Approximately 14,926,928 shares were traded during mid-day trading, an increase of 246% from the average daily volume of 4,314,159 shares. The stock had previously closed at C$7.06.

Analysts Set New Price Targets

A number of research analysts recently weighed in on VRN shares. National Bankshares increased 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 report on Thursday, January 30th. CIBC lowered their price target on Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Veren presently has a consensus rating of “Buy” and a consensus price target of C$11.83.

Veren Stock Up 16.0 %

The company’s 50 day moving average is C$7.49. The company has a market cap of C$5.02 billion and a P/E ratio of 4.66.

Veren Announces Dividend

The company 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. 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.