CIBC Cuts Veren (TSE:VRN) Price Target to C$12.50

Veren (TSE:VRN) had its price target lowered by CIBC from C$13.00 to C$12.50 in a research note published on Friday,BayStreet.CA reports.

VRN has been the topic of a number of other reports. Royal Bank of Canada dropped their price objective on Veren from C$12.00 to C$10.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. TD Securities dropped their price objective on Veren from C$15.00 to C$12.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. ATB Capital dropped their price objective on Veren from C$11.50 to C$11.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Canaccord Genuity Group dropped their price objective on Veren from C$15.00 to C$14.00 in a research note on Tuesday, October 22nd. Finally, Raymond James dropped their price objective on 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. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$11.83.

Veren Stock Up 0.3 %

Shares of Veren stock opened at C$7.91 on Friday. Veren has a fifty-two week low of C$6.34 and a fifty-two week high of C$12.67. The stock has a 50 day simple moving average of C$7.32.

Veren Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, January 2nd were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 5.82%. The ex-dividend date was Friday, December 13th.

Veren Company Profile

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.