Brokerages Set Veren Inc. (TSE:VRN) Price Target at C$11.89

Veren Inc. (TSE:VRN) has been given an average rating of “Buy” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is C$11.89.

Several brokerages have recently commented on VRN. ATB Capital lowered their target price on shares of Veren from C$11.50 to C$11.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada lowered their price objective on Veren from C$12.00 to C$10.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Canaccord Genuity Group cut their target price on Veren from C$15.00 to C$14.00 in a research report on Tuesday, October 22nd. BMO Capital Markets decreased their price target on Veren from C$14.00 to C$11.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, National Bankshares cut 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 report on Friday, November 1st.

Veren Stock Performance

TSE:VRN opened at C$7.08 on Friday. Veren has a 52 week low of C$6.34 and a 52 week high of C$12.67. The business’s 50-day simple moving average is C$7.39.

Veren Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, January 2nd will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 6.50%. 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.