Veren (TSE:VRN) Shares Up 16.3% – Still a Buy?

Veren Inc. (TSE:VRN) shares traded up 16.3% on Monday . The company traded as high as C$8.39 and last traded at C$8.21. 14,841,724 shares traded hands during mid-day trading, an increase of 244% from the average session volume of 4,314,159 shares. The stock had previously closed at C$7.06.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. CIBC dropped their price objective on Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. National Bankshares lifted their target price 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 investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Veren has a consensus rating of “Buy” and an average target price of C$11.83.

Veren Trading Up 16.0 %

The company has a market cap of C$5.02 billion and a price-to-earnings ratio of 4.66. The firm has a 50 day simple moving average of C$7.49.

Veren Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend 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.