Royal Bank of Canada Issues Pessimistic Forecast for Veren (TSE:VRN) Stock Price

Veren (TSE:VRN) had its price objective decreased by investment analysts at Royal Bank of Canada from C$10.00 to C$9.75 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 11.30% from the company’s current price.

A number of other research firms also recently weighed in on VRN. ATB Capital dropped their price target on Veren from C$11.00 to C$9.50 in a research note on Tuesday. National Bankshares upped their target price on Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, CIBC cut their target price on Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Veren has an average rating of “Buy” and an average target price of C$11.74.

Veren Trading Up 3.7 %

VRN opened at C$8.76 on Tuesday. The firm has a fifty day moving average of C$7.53. Veren has a 1-year low of C$6.34 and a 1-year high of C$12.67. The company has a market capitalization of C$5.37 billion and a P/E ratio of 4.99.

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.