Shares of Trinidad Drilling Ltd. (TSE:TDG) shot up 2.5% on Friday . The stock traded as high as C$1.64 and last traded at C$1.62. 398,178 shares traded hands during trading, a decline of 37% from the average session volume of 631,767 shares. The stock had previously closed at C$1.58.

Several research firms have weighed in on TDG. TD Securities lowered shares of Trinidad Drilling from a “buy” rating to a “hold” rating and lowered their target price for the company from C$2.25 to C$2.00 in a research note on Thursday, November 9th. Raymond James Financial lowered their target price on shares of Trinidad Drilling from C$2.80 to C$2.20 and set an “outperform” rating for the company in a research note on Wednesday, December 6th. CIBC lowered their target price on shares of Trinidad Drilling from C$2.75 to C$2.50 in a research note on Friday, October 20th. National Bank Financial lowered shares of Trinidad Drilling from an “outperform market weight” rating to a “sector perform overweight” rating in a research note on Thursday, November 9th. Finally, GMP Securities boosted their target price on shares of Trinidad Drilling from C$2.00 to C$2.25 in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of C$2.47.

The stock has a market cap of $448.47, a PE ratio of -5.86 and a beta of 1.37.

Trinidad Drilling (TSE:TDG) last released its quarterly earnings results on Wednesday, November 8th. The company reported C($0.16) EPS for the quarter, missing the consensus estimate of C($0.07) by C($0.09). The firm had revenue of C$129.81 million for the quarter, compared to the consensus estimate of C$133.20 million. Trinidad Drilling had a negative return on equity of 13.57% and a negative net margin of 34.40%.

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Trinidad Drilling Company Profile

Trinidad Drilling Ltd. is a Canada-based company, which operates in the drilling sector of the North American oil and natural gas industry, with operations in Canada and the United States. The Company operates through five segments, which include Canadian Operations, US and International Operations, Manufacturing Operations, Joint Venture Operations and Corporate.

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