Veren (TSE:VRN) Trading 15.4% Higher – Should You Buy?

Veren Inc. (TSE:VRN)’s share price traded up 15.4% during mid-day trading on Monday . The company traded as high as C$8.36 and last traded at C$8.15. 11,587,658 shares were traded during trading, an increase of 172% from the average session volume of 4,258,240 shares. The stock had previously closed at C$7.06.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VRN shares. CIBC lowered their price objective on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. National Bankshares upped 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. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$11.83.

Veren Stock Performance

The stock has a market cap of C$5.02 billion and a P/E ratio of 4.66. The business has a 50 day moving average of C$7.49.

Veren Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend 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.