Veren (TSE:VRN) Shares Up 13.9% – Should You Buy?

Shares of Veren Inc. (TSE:VRN) traded up 13.9% during trading on Monday . The company traded as high as C$8.36 and last traded at C$8.04. 5,251,652 shares were traded during trading, an increase of 28% from the average session volume of 4,116,081 shares. The stock had previously closed at C$7.06.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. CIBC lowered their target price on shares of Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. National Bankshares boosted their price objective 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$11.83.

Veren Stock Performance

The stock has a market capitalization of C$5.03 billion and a PE ratio of 4.68. The firm has a 50-day moving average of C$7.49.

Veren Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be paid a $0.115 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.46 dividend on an annualized basis and a yield of 5.60%.

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.