Analysts Set Veren Inc. (TSE:VRN) Target Price at C$11.74

Veren Inc. (TSE:VRN) has been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$11.74.

Several equities research analysts have recently commented on VRN shares. Desjardins cut shares of Veren from a “buy” rating to a “tender” rating and raised their target price for the stock from C$11.00 to C$12.60 in a research report on Tuesday, March 11th. ATB Capital dropped their target price on shares of Veren from C$11.00 to C$9.50 in a research report on Tuesday, March 11th. Royal Bank of Canada dropped 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 report on Tuesday, March 11th. Finally, 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.

Veren Stock Performance

The company has a market cap of C$5.60 billion and a price-to-earnings ratio of 5.20. Veren has a twelve month low of C$6.34 and a twelve month high of C$12.00. The stock has a 50-day moving average price of C$8.62 and a two-hundred day moving average price of C$7.82.

Veren Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, April 1st were given a dividend of $0.115 per share. The ex-dividend date was Friday, March 14th. This represents a $0.46 dividend on an annualized basis and a yield of ∞.

About Veren

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.