Veren (TSE:VRN) Shares Up 13.9% – Time to Buy?

Veren Inc. (TSE:VRN) shares shot up 13.9% during mid-day trading on Monday . The company traded as high as C$8.36 and last traded at C$8.04. 5,251,652 shares changed hands during trading, an increase of 28% from the average session volume of 4,116,081 shares. The stock had previously closed at C$7.06.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. National Bankshares lifted their price objective on Veren from C$12.50 to C$13.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. CIBC dropped their price objective on shares of Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$11.83.

Veren Price Performance

The firm has a market cap of C$5.03 billion and a price-to-earnings ratio of 4.68. The firm’s 50-day moving average price is C$7.49.

Veren Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend is Friday, March 14th.

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.