Royal Bank of Canada Lowers Veren (TSE:VRN) Price Target to C$10.00

Veren (TSE:VRN) had its price objective lowered by Royal Bank of Canada from C$12.00 to C$10.00 in a report published on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts also recently commented on VRN. National Bankshares dropped their price objective on shares of Veren from C$13.50 to C$13.00 and set an “outperform” rating for the company in a research note on Friday. BMO Capital Markets dropped their target price on Veren from C$14.00 to C$11.00 and set an “outperform” rating for the company in a research report on Friday. Canaccord Genuity Group dropped their price target on shares of Veren from C$15.00 to C$14.00 in a research note on Tuesday, October 22nd. Raymond James cut their price objective on Veren from C$13.00 to C$12.00 and set a “strong-buy” rating on the stock in a research note on Friday. Finally, Scotiabank dropped their price target on shares of Veren from C$12.00 to C$11.00 and set an “outperform” rating on the stock in a research report on Friday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$11.89.

Veren Stock Performance

Shares of TSE:VRN opened at C$7.15 on Friday. Veren has a 12 month low of C$6.84 and a 12 month high of C$12.67.

Veren Dividend Announcement

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