Worley (OTCMKTS:WYGPY) Shares Up 6.8% - Time to Buy?

Key Points

• Worley Limited's stock rose by 6.8% on a recent trading day, reaching a last traded price of $9.60, despite a decline in trading volume.
• Royal Bank of Canada upgraded Worley's rating from "hold" to "moderate buy," contributing to a consensus rating of "Buy" for the stock.
• The company announced a dividend of $0.1295, which indicates an impressive dividend yield of 267.0% for investors of record on September 9th.

Worley Limited Unsponsored ADR (OTCMKTS:WYGPY - Get Free Report)'s share price shot up 6.8% during trading on Tuesday . The company traded as high as $9.60 and last traded at $9.60. 300 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,605 shares. The stock had previously closed at $8.99.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada upgraded shares of Worley from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy".

Worley Stock Performance

The firm has a 50 day simple moving average of $8.77 and a 200-day simple moving average of $8.45.

Worley Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 9th will be given a $0.1295 dividend. This represents a yield of 267.0%. The ex-dividend date of this dividend 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.