Diamond Offshore Drilling Inc (NYSE:DO) has been assigned an average rating of “Hold” from the twenty-seven research firms that are covering the stock, Marketbeat Ratings reports. Twelve analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $14.39.
Several research firms recently commented on DO. Jefferies Group reaffirmed a “sell” rating and set a $12.00 price objective on shares of Diamond Offshore Drilling in a research report on Thursday, February 15th. Zacks Investment Research raised Diamond Offshore Drilling from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. TheStreet downgraded Diamond Offshore Drilling from a “c-” rating to a “d” rating in a research note on Monday, February 12th. Susquehanna Bancshares set a $15.00 target price on Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Tuesday, February 13th. Finally, Piper Jaffray Companies set a $9.00 target price on Diamond Offshore Drilling and gave the company a “sell” rating in a research note on Monday, February 12th.
In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $18.55, for a total transaction of $27,825.00. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at $18,550. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.03% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Diamond Offshore Drilling by 331.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,641 shares of the offshore drilling services provider’s stock worth $142,000 after buying an additional 5,872 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Diamond Offshore Drilling during the 3rd quarter worth about $126,000. Itau Unibanco Holding S.A. purchased a new stake in Diamond Offshore Drilling during the 4th quarter worth about $171,000. Wright Investors Service Inc. purchased a new stake in Diamond Offshore Drilling during the 4th quarter worth about $204,000. Finally, Investors Research Corp acquired a new stake in shares of Diamond Offshore Drilling during the fourth quarter worth about $209,000. 90.58% of the stock is owned by institutional investors.
Shares of Diamond Offshore Drilling (DO) traded up $0.34 during trading hours on Friday, hitting $14.08. The stock had a trading volume of 846,672 shares, compared to its average volume of 1,832,412. Diamond Offshore Drilling has a 1 year low of $10.06 and a 1 year high of $20.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.97 and a quick ratio of 3.97. The company has a market capitalization of $1,930.00, a P/E ratio of 100.29 and a beta of 1.13.
Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. Diamond Offshore Drilling had a return on equity of 2.96% and a net margin of 1.23%. The firm had revenue of $346.20 million during the quarter, compared to the consensus estimate of $331.98 million. During the same period last year, the company earned $0.27 earnings per share. The company’s revenue was down 11.7% on a year-over-year basis. analysts expect that Diamond Offshore Drilling will post -0.16 EPS for the current year.
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Diamond Offshore Drilling Company Profile
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig. Its fleet enables it to offer a range of services, primarily in the floater market, including ultra-deepwater, deepwater and mid-water.
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