Scotiabank Cuts Veren (TSE:VRN) Price Target to C$11.00

Veren (TSE:VRN) had its target price cut by Scotiabank from C$12.00 to C$11.00 in a research note released on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research analysts have also issued reports on the stock. CIBC decreased their price target on shares of Veren from C$15.00 to C$13.00 in a research report on Friday. Raymond James decreased their target price on Veren from C$13.00 to C$12.00 and set a “strong-buy” rating on the stock in a report on Friday. Canaccord Genuity Group cut their target price on Veren from C$15.00 to C$14.00 in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets decreased their price target on Veren from C$14.00 to C$11.00 and set an “outperform” rating for the company in a research report on Friday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Veren presently has a consensus rating of “Buy” and a consensus price target of C$11.89.

Veren Trading Down 3.2 %

Shares of VRN opened at C$6.94 on Friday. Veren has a 12-month low of C$6.84 and a 12-month high of C$12.67.

Veren Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be given a $0.115 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.46 annualized dividend and a dividend yield of 6.63%.

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.