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

Veren (TSE:VRN) had its price target reduced by ATB Capital from C$11.50 to C$11.00 in a research report report published on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently commented on the company. Royal Bank of Canada lowered their target price on Veren from C$12.00 to C$10.00 and set an “outperform” rating on the stock in a research note on Friday. National Bankshares dropped their price objective on Veren from C$13.50 to C$13.00 and set an “outperform” rating on the stock in a report on Friday. Scotiabank cut their price objective 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. BMO Capital Markets dropped 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 note on Friday. Finally, Raymond James reduced their price objective on shares of Veren from C$13.00 to C$12.00 and set a “strong-buy” rating for the company in a research note on Friday. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Veren presently has an average rating of “Buy” and a consensus price target of C$11.89.

Veren Price Performance

TSE VRN opened at C$7.15 on Friday. Veren has a 52-week low of C$6.84 and a 52-week high of C$12.67.

Veren Dividend Announcement

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

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.