Trinidad Drilling Now Covered by Canaccord Genuity (TDG)
Equities research analysts at Canaccord Genuity started coverage on shares of Trinidad Drilling (TSE:TDG) in a note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. The firm set a “buy” rating and a C$12.25 price target on the stock. Canaccord Genuity’s price target would indicate a potential upside of 26.29% from the company’s current price.
Shares of Trinidad Drilling (TSE:TDG) traded down 0.62% during mid-day trading on Tuesday, hitting $9.64. The stock had a trading volume of 222,069 shares. Trinidad Drilling has a one year low of $6.46 and a one year high of $10.84. The stock’s 50-day moving average is $9.86 and its 200-day moving average is $9.51. The company has a market cap of $1.165 billion and a P/E ratio of 38.80.
The company also recently announced a dividend, which is scheduled for Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of 0.0473 per share. The ex-dividend date is Friday, December 27th.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital reiterated an “outperform” rating on shares of Trinidad Drilling in a research note to investors on Wednesday, December 18th. Separately, analysts at Raymond James raised their price target on shares of Trinidad Drilling from C$11.75 to C$12.00 in a research note to investors on Tuesday, December 17th. They now have a “strong-buy” rating on the stock. Finally, analysts at CIBC raised their price target on shares of Trinidad Drilling from C$11.50 to C$12.25 in a research note to investors on Tuesday, December 17th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Trinidad Drilling presently has an average rating of “Buy” and an average target price of C$11.83.
Trinidad Drilling Ltd. (TSE:TDG) is a drilling rig contractor, which provides contract drilling services to the Canadian, United States and Latin American oil and gas industry.
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