Diamond Offshore Drilling Inc. (NYSE:DO)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Group in a report issued on Saturday. They currently have a $17.00 price target on the offshore drilling services provider’s stock. Jefferies Group’s price objective would indicate a potential downside of 0.93% from the stock’s previous close.
Several other research firms have also weighed in on DO. Vetr lowered Diamond Offshore Drilling from a “strong-buy” rating to a “buy” rating and set a $28.66 price objective for the company. in a research report on Monday, July 18th. Zacks Investment Research lowered Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Bank of America Corp. assumed coverage on Diamond Offshore Drilling in a research report on Sunday, June 19th. They issued a “buy” rating and a $24.32 price objective for the company. Evercore ISI reissued a “hold” rating on shares of Diamond Offshore Drilling in a research report on Thursday, June 30th. Finally, Barclays PLC lifted their price objective on Diamond Offshore Drilling from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Monday, August 8th. Six analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $20.20.
Shares of Diamond Offshore Drilling (NYSE:DO) traded up 0.12% on Friday, reaching $17.16. The company had a trading volume of 2,231,489 shares. The stock has a 50-day moving average price of $16.67 and a 200-day moving average price of $21.59. Diamond Offshore Drilling has a 12 month low of $14.18 and a 12 month high of $26.72. The stock’s market cap is $2.35 billion.
Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Monday, August 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The firm had revenue of $388.75 million for the quarter, compared to the consensus estimate of $374.17 million. Diamond Offshore Drilling had a positive return on equity of 9.12% and a negative net margin of 30.20%. The business’s quarterly revenue was down 38.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. Analysts predict that Diamond Offshore Drilling will post $1.01 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Balentine LLC boosted its position in Diamond Offshore Drilling by 5.7% in the second quarter. Balentine LLC now owns 4,186 shares of the offshore drilling services provider’s stock valued at $102,000 after buying an additional 226 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Diamond Offshore Drilling by 24,233.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,840 shares of the offshore drilling services provider’s stock valued at $142,000 after buying an additional 5,816 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Diamond Offshore Drilling during the second quarter valued at $155,000. Mason Street Advisors LLC purchased a new position in Diamond Offshore Drilling during the second quarter valued at $211,000. Finally, BlackRock Japan Co. Ltd purchased a new position in Diamond Offshore Drilling during the second quarter valued at $214,000.
Diamond Offshore Drilling Company Profile
Diamond Offshore Drilling, Inc is engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. Its fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water).
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