Veren (TSE:VRN) Trading 15.9% Higher – Here’s What Happened

Shares of Veren Inc. (TSE:VRN) traded up 15.9% 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 Ratings Changes

A number of equities analysts have recently commented on VRN shares. National Bankshares lifted 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. CIBC lowered their price objective on shares of Veren from C$13.00 to C$12.50 in a research 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 MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target 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 stock’s fifty day simple moving average is C$7.49.

Veren Dividend Announcement

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