Veren (TSE:VRN) Given New C$9.75 Price Target at Royal Bank of Canada

Veren (TSE:VRN) had its price objective lowered by equities research analysts at Royal Bank of Canada from C$10.00 to C$9.75 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 16.35% from the stock’s previous close.

Other analysts also recently issued research reports about the company. ATB Capital reduced their price objective on Veren from C$11.00 to C$9.50 in a research report on Tuesday. CIBC decreased their price target on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. Finally, National Bankshares raised their price objective on shares of Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Veren currently has an average rating of “Buy” and a consensus price target of C$11.74.

Veren Price Performance

Shares of TSE:VRN traded up C$0.19 on Tuesday, hitting C$8.38. 9,491,778 shares of the company were exchanged, compared to its average volume of 4,745,107. Veren has a one year low of C$6.34 and a one year high of C$12.67. The stock has a market capitalization of C$5.13 billion and a price-to-earnings ratio of 4.77. The firm’s 50 day moving average price is C$7.49.

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.