Veren (TSE:VRN) Lowered to “Tender” Rating by Desjardins

Desjardins lowered shares of Veren (TSE:VRN) from a buy rating to a tender rating in a report released on Tuesday,BayStreet.CA reports. Desjardins currently has C$12.60 price target on the stock, up from their prior price target of C$11.00.

Several other brokerages also recently issued reports on VRN. Royal Bank of Canada lowered their price objective on shares of Veren from C$10.00 to C$9.75 and set an “outperform” rating on the stock in a research report on Tuesday. ATB Capital lowered their target price on shares of Veren from C$11.00 to C$9.50 in a report on Tuesday. CIBC lowered their target price on shares of Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Finally, 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. Six 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 has a consensus rating of “Buy” and a consensus price target of C$11.74.

Veren Price Performance

Shares of Veren stock opened at C$8.65 on Tuesday. Veren has a 1 year low of C$6.34 and a 1 year high of C$12.67. The stock has a market cap of C$5.30 billion and a P/E ratio of 4.93. The stock’s fifty day simple moving average is C$7.56.

Veren Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 5.32%. 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.