CIBC Issues Pessimistic Forecast for Veren (TSE:VRN) Stock Price

Veren (TSE:VRN) had its price target trimmed by CIBC from C$15.00 to C$13.00 in a research report sent to investors on Friday, BayStreet.CA reports.

Other equities research analysts have also recently issued reports about the company. Raymond James raised Veren to a “strong-buy” rating in a research note on Thursday, October 17th. Canaccord Genuity Group dropped their target price on Veren from C$15.00 to C$14.00 in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets reduced their price target on shares of Veren from C$14.00 to C$11.00 and set an “outperform” rating on the stock in a research report on Friday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of C$11.89.

Veren Price Performance

Shares of VRN opened at C$7.15 on Friday. Veren has a 1-year low of C$6.84 and a 1-year high of C$12.67.

Veren Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend is Friday, December 13th.

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.