Veren (TSE:VRN) Stock Price Up 16% – Time to Buy?

Veren Inc. (TSE:VRN)’s stock price rose 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.

Analysts Set New Price Targets

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

Veren Stock Up 16.0 %

The stock’s fifty day moving average price is C$7.49. The company has a market cap of C$5.02 billion and a PE ratio of 4.66.

Veren Announces Dividend

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 issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date 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.