Veren (TSE:VRN) Stock Price Up 16.3% – Here’s What Happened

Veren Inc. (TSE:VRN)’s share price traded up 16.3% on Monday . The company traded as high as C$8.39 and last traded at C$8.21. 14,841,724 shares changed hands during mid-day trading, an increase of 244% from the average session volume of 4,314,159 shares. The stock had previously closed at C$7.06.

Wall Street Analysts Forecast Growth

VRN has been the topic of a number of recent analyst reports. National Bankshares increased their price objective on Veren from C$12.50 to C$13.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. CIBC dropped their price target on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$11.83.

Veren Stock Up 16.0 %

The firm has a 50-day moving average of C$7.49. The firm has a market cap of C$5.02 billion and a price-to-earnings ratio of 4.66.

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 paid a dividend of $0.115 per share. The ex-dividend date is Friday, March 14th. This represents a $0.46 annualized dividend and a dividend yield of 5.62%.

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.