Veren (TSE:VRN) Shares Up 13.9% – What’s Next?

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

Analysts Set New Price Targets

A number of analysts have weighed in on VRN shares. National Bankshares raised 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 cut their target price on Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$11.83.

Veren Trading Up 16.3 %

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

Veren Announces Dividend

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

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.