Veren Inc. (TSE:VRN) Receives C$11.74 Average Price Target from Analysts

Shares of Veren Inc. (TSE:VRN - Get Free Report) have been given an average recommendation of "Buy" by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$11.74.

A number of analysts recently weighed in on the stock. Desjardins cut shares of Veren from a "buy" rating to a "tender" rating and increased their price target for the stock from C$11.00 to C$12.60 in a research note on Tuesday, March 11th. CIBC reduced their target price on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. 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 note on Thursday, January 30th. ATB Capital reduced their target price on shares of Veren from C$11.00 to C$9.50 in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada reduced their target price on shares of Veren from C$10.00 to C$9.75 and set an "outperform" rating for the company in a research note on Tuesday, March 11th.

Veren Stock Down 3.2 %

TSE:VRN traded down C$0.27 during trading hours on Friday, reaching C$8.16. 4,184,367 shares of the company's stock were exchanged, compared to its average volume of 4,731,637. The firm has a market cap of C$5.00 billion and a price-to-earnings ratio of 4.65. The firm's 50-day moving average is C$8.35. Veren has a 1-year low of C$6.34 and a 1-year high of C$12.47.

Veren Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date was Friday, March 14th.

Veren Company Profile

Veren Inc is a Canada-based oil producer with assets in central Alberta and southeast and southwest Saskatchewan. The principal activities of the Company are acquiring, developing and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly owned subsidiaries.