Veren (TSE:VRN) Trading Up 16% – Should You Buy?

Veren Inc. (TSE:VRN) traded up 16% on Tuesday . The stock traded as high as C$8.39 and last traded at C$8.19. 27,269,131 shares traded hands during trading, an increase of 486% from the average session volume of 4,652,672 shares. The stock had previously closed at C$7.06.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. CIBC reduced their price objective on Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. National Bankshares raised their price target on Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Six equities research 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 currently has an average rating of “Buy” and an average price target of C$11.83.

Veren Price Performance

The company has a fifty day simple moving average of C$7.49. The company has a market capitalization of C$5.02 billion and a PE ratio of 4.66.

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 given a $0.115 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.46 dividend on an annualized basis and a dividend 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.