Veren (TSE:VRN) Shares Up 16% – Should You Buy?

Shares of Veren Inc. (TSE:VRN) traded up 16% during trading on Monday . The company traded as high as C$8.39 and last traded at C$8.19. 27,269,131 shares traded hands during mid-day trading, an increase of 486% from the average session volume of 4,652,672 shares. The stock had previously closed at C$7.06.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VRN shares. National Bankshares raised their target price 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. CIBC reduced their price objective on Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$11.83.

Veren Stock Up 16.0 %

The company’s fifty day simple moving average is C$7.49. The firm has a market capitalization of C$5.02 billion and a price-to-earnings ratio of 4.66.

Veren Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be issued a $0.115 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.46 annualized dividend and a dividend yield of 5.62%.

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.