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

Veren Inc. (TSE:VRN) has earned a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$11.74.

Several analysts recently commented on the stock. National Bankshares raised their price target on shares of Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. CIBC decreased their target price on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. ATB Capital lowered their price target on shares of Veren from C$11.00 to C$9.50 in a report on Tuesday, March 11th. Desjardins lowered Veren from a “buy” rating to a “tender” rating and increased their price objective for the stock from C$11.00 to C$12.60 in a report on Tuesday, March 11th. Finally, Royal Bank of Canada lowered their target price on Veren from C$10.00 to C$9.75 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th.

Veren Stock Performance

Shares of Veren stock opened at C$9.52 on Monday. Veren has a 1 year low of C$6.34 and a 1 year high of C$12.67. The stock has a market cap of C$5.83 billion and a P/E ratio of 5.42. The business has a 50-day simple moving average of C$7.94.

Veren Dividend Announcement

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 dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date 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.