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

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VRN shares. National Bankshares raised their target price on Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. CIBC cut their target price on Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$11.83.

Veren Trading Up 16.0 %

The stock has a market capitalization of C$5.02 billion and a P/E ratio of 4.66. The business has a 50-day moving average of C$7.49.

Veren Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend is Friday, March 14th.

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.