Veren Inc. (TSE:VRN) Given Average Rating of “Buy” by Brokerages

Veren Inc. (TSE:VRN) has received an average recommendation of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$11.83.

Several brokerages have recently issued reports on VRN. National Bankshares upped their price target on Veren from C$12.50 to C$13.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. ATB Capital reduced 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 research note on Friday, November 1st. TD Securities cut their price objective on shares of Veren from C$15.00 to C$12.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Scotiabank lowered their target price on shares of Veren from C$12.00 to C$11.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Canaccord Genuity Group cut their price target on Veren from C$15.00 to C$14.00 in a research note on Tuesday, October 22nd.

Veren Stock Performance

TSE:VRN opened at C$7.42 on Friday. The firm has a market cap of C$4.55 billion and a P/E ratio of 4.23. The stock’s fifty day moving average price is C$7.38. Veren has a 52-week low of C$6.34 and a 52-week high of C$12.67.

Veren Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, January 2nd were paid a $0.115 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.46 dividend on an annualized basis and a yield of 6.20%.

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.