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

Veren Inc. (TSE:VRN)’s share price shot up 16% during trading on Tuesday . The company traded as high as C$8.39 and last traded at C$8.19. 27,269,131 shares were traded 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.

Analysts Set New Price Targets

VRN has been the subject of a number of recent research reports. National Bankshares boosted their price objective on Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. CIBC decreased their price objective on Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Six 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 an average price target of C$11.83.

Veren Price Performance

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

Veren Dividend Announcement

The firm also recently announced 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. This represents a $0.46 annualized dividend and a dividend yield of 5.62%. The ex-dividend date is Friday, March 14th.

About Veren

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.