Veren Inc. Plans Quarterly Dividend of $0.12 (TSE:VRN)

Veren Inc. (TSE:VRN) declared a quarterly dividend on Friday, March 14th, TickerTech Dividends reports. Investors of record on Tuesday, April 1st will be given a dividend of 0.115 per share on Tuesday, April 1st. This represents a $0.46 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend is Friday, March 14th.

Veren Stock Performance

VRN stock traded up C$0.20 during mid-day trading on Wednesday, reaching C$8.65. The company’s stock had a trading volume of 2,599,671 shares, compared to its average volume of 4,807,191. The company’s 50 day moving average price is C$7.51. Veren has a fifty-two week low of C$6.34 and a fifty-two week high of C$12.67. The stock has a market cap of C$5.30 billion and a PE ratio of 4.93.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VRN shares. ATB Capital cut their price target on Veren from C$11.00 to C$9.50 in a report on Tuesday. CIBC dropped their target price on Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Royal Bank of Canada reduced their price target on Veren from C$10.00 to C$9.75 and set an “outperform” rating on the stock in a report on Tuesday. Desjardins cut shares of Veren from a “buy” rating to a “tender” rating and boosted their price target for the company from C$11.00 to C$12.60 in a research report on Tuesday. Finally, National Bankshares raised their price objective on shares of Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$11.74.

Veren Company Profile

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.