Veren Inc. (TSE:VRN) Receives Consensus Recommendation of “Buy” from Brokerages

Veren Inc. (TSE:VRN) has been assigned a consensus recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is C$11.74.

Several brokerages recently issued reports on VRN. CIBC lowered their price target on Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. National Bankshares boosted their price objective on Veren from C$12.50 to C$13.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada reduced their target price on Veren from C$10.00 to C$9.75 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. ATB Capital decreased their price target on shares of Veren from C$11.00 to C$9.50 in a research note on Tuesday, March 11th. Finally, Desjardins cut shares of Veren from a “buy” rating to a “tender” rating and increased their price objective for the company from C$11.00 to C$12.60 in a research note on Tuesday, March 11th.

Veren Trading Down 1.0 %

Shares of TSE VRN opened at C$9.52 on Monday. Veren has a 12 month low of C$6.34 and a 12 month high of C$12.67. The company has a market cap of C$5.83 billion and a P/E ratio of 5.42. The stock has a 50 day simple moving average of C$7.94.

Veren Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.83%. 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.