Veren Inc. (NYSE:VRN) Increases Dividend to $0.09 Per Share

Veren Inc. (NYSE:VRN) declared a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Sunday, December 15th will be given a dividend of 0.085 per share on Thursday, January 2nd. This represents a $0.34 annualized dividend and a yield of 6.63%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Veren’s previous quarterly dividend of $0.08.

Veren Stock Down 0.6 %

Shares of VRN traded down $0.03 on Friday, hitting $5.13. The company’s stock had a trading volume of 1,583,847 shares, compared to its average volume of 4,498,690. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of -85.90 and a beta of 2.14. Veren has a fifty-two week low of $4.99 and a fifty-two week high of $9.28. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $6.44.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Scotiabank reduced their target price on shares of Veren from $16.00 to $15.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Raymond James started coverage on shares of Veren in a research note on Friday, October 18th. They set a “strong-buy” rating and a $13.00 price objective on the stock.

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.