CIBC Lowers Veren (TSE:VRN) Price Target to C$12.50

Veren (TSE:VRN) had its target price lowered by CIBC from C$13.00 to C$12.50 in a research report report published on Friday morning,BayStreet.CA reports.

Several other research firms also recently issued reports on VRN. Canaccord Genuity Group dropped their target price on Veren from C$15.00 to C$14.00 in a research report on Tuesday, October 22nd. BMO Capital Markets dropped their price objective on Veren from C$14.00 to C$11.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. ATB Capital cut their target price on Veren from C$11.50 to C$11.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. National Bankshares decreased their price target on Veren from C$13.50 to C$13.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Raymond James reduced their price objective on shares of Veren from C$13.00 to C$12.00 and set a “strong-buy” rating for the company in a research note on Friday, November 1st. 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 MarketBeat, Veren currently has an average rating of “Buy” and a consensus target price of C$11.83.

Veren Stock Performance

Shares of VRN stock opened at C$7.91 on Friday. The company’s 50 day simple moving average is C$7.32. Veren has a 12 month low of C$6.34 and a 12 month high of C$12.67.

Veren Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date was Friday, December 13th.

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.