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Drillsearch Energy Limited (ASX:DLS) was downgraded by research analysts at RBC Capital to an “outperform” rating in a report released on Thursday. They currently have a $2.00 target price on the stock.

Shares of Drillsearch Energy Limited (ASX:DLS) traded down 3.68% during mid-day trading on Thursday, hitting A$1.440. 6,457,152 shares of the company’s stock traded hands. Drillsearch Energy Limited has a 1-year low of A$1.100 and a 1-year high of A$1.740. The stock’s 50-day moving average is A$1.52 and its 200-day moving average is A$1.56. The company has a market cap of A$622.2 million and a price-to-earnings ratio of 9.17.

Drillsearch Energy Limited (ASX:DLS) is engaged in exploration, development and production of oil and gas interests.

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