Brokerages Set Veren Inc. (TSE:VRN) Target Price at C$11.89

Shares of Veren Inc. (TSE:VRN) have earned an average rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$11.89.

A number of brokerages have weighed in on VRN. National Bankshares decreased their target price on shares of Veren from C$13.50 to C$13.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. ATB Capital reduced their price objective on shares of Veren from C$11.50 to C$11.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Canaccord Genuity Group decreased their target price on Veren from C$15.00 to C$14.00 in a research note on Tuesday, October 22nd. Raymond James decreased their price target on shares of Veren from C$13.00 to C$12.00 and set a “strong-buy” rating on the stock in a research note on Friday, November 1st. Finally, CIBC lowered their target price on Veren from C$15.00 to C$13.00 in a research report on Friday, November 1st.

Veren Trading Up 3.4 %

Shares of Veren stock opened at C$6.92 on Friday. The stock has a 50-day moving average price of C$7.41. Veren has a 1 year low of C$6.34 and a 1 year high of C$12.67.

Veren Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date is Friday, December 13th.

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.