Veren (TSE:VRN) Trading Up 15.7% – Still a Buy?

Veren Inc. (TSE:VRN) shares traded up 15.7% during trading on Monday . The stock traded as high as C$8.39 and last traded at C$8.17. 19,597,803 shares changed hands during mid-day trading, an increase of 338% from the average session volume of 4,470,405 shares. The stock had previously closed at C$7.06.

Analyst Upgrades and Downgrades

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

Veren Trading Up 16.0 %

The stock has a market capitalization of C$5.02 billion and a price-to-earnings ratio of 4.66. The firm has a fifty day moving average price of C$7.49.

Veren Dividend Announcement

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 paid a $0.115 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.46 annualized dividend and a dividend yield of 5.62%.

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.