Veren (TSE:VRN) Stock Price Up 15.9% – Here’s Why

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VRN. CIBC dropped their price target on shares of Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. National Bankshares increased their target price on shares of Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Veren currently has an average rating of “Buy” and a consensus price target of C$11.83.

Veren Stock Up 16.0 %

The firm has a 50-day moving average price of C$7.49. The company has a market capitalization of C$5.02 billion and a PE ratio of 4.66.

Veren Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 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.