Worley (OTCMKTS:WYGPY) Shares Up 9.5% - Still a Buy?

Key Points

• Worley Limited shares rose by 9.5% to close at $9.88 after trading, despite a decrease in trading volume by 50%.
• Royal Bank of Canada has upgraded Worley's rating from "hold" to "moderate buy", contributing to an overall analyst rating of "Buy."
• The company announced a dividend of $0.1295 per share with a remarkable dividend yield of 267.0%, payable on October 16th to stockholders of record by September 9th.

Worley Limited Unsponsored ADR (OTCMKTS:WYGPY - Get Free Report)'s share price shot up 9.5% during mid-day trading on Monday . The stock traded as high as $9.88 and last traded at $9.88. 798 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 1,599 shares. The stock had previously closed at $9.02.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada upgraded Worley from a "hold" rating to a "moderate buy" rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy".

Worley Trading Up 9.5%

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $8.79 and a 200-day simple moving average of $8.46.

Worley Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $0.1295 per share. This represents a dividend yield of 267.0%. The ex-dividend date is Monday, September 8th.

About Worley

Worley Limited provides professional project and asset services to energy, chemicals, and resources sectors worldwide. The company offers digital, consulting, engineering and design, construction management, construction and fabrication, supply chain management, project management, and operation and maintenance services, as well as maintenance, modification, and operation services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.