Diamond Offshore Drilling Inc (NYSE:DO) Receives Average Rating of “Hold” from Brokerages

Shares of Diamond Offshore Drilling Inc (NYSE:DO) have been given a consensus recommendation of “Hold” by the twenty-one research firms that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $11.07.

DO has been the subject of a number of research analyst reports. Tudor Pickering upgraded shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. ValuEngine upgraded shares of Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a report on Thursday. Piper Jaffray Companies set a $8.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Thursday, July 11th. Bank of America initiated coverage on shares of Diamond Offshore Drilling in a research note on Monday, June 10th. They issued an “underperform” rating and a $5.00 target price for the company. Finally, UBS Group set a $12.00 target price on shares of Diamond Offshore Drilling and gave the stock a “buy” rating in a research note on Wednesday, June 26th.

Several hedge funds have recently added to or reduced their stakes in DO. PNC Financial Services Group Inc. boosted its position in shares of Diamond Offshore Drilling by 111.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,681 shares of the offshore drilling services provider’s stock valued at $44,000 after acquiring an additional 2,468 shares during the period. BlackRock Inc. boosted its position in shares of Diamond Offshore Drilling by 2.9% in the fourth quarter. BlackRock Inc. now owns 8,630,005 shares of the offshore drilling services provider’s stock valued at $81,467,000 after acquiring an additional 241,620 shares during the period. Advisor Group Inc. boosted its position in shares of Diamond Offshore Drilling by 108.3% in the fourth quarter. Advisor Group Inc. now owns 3,577 shares of the offshore drilling services provider’s stock valued at $35,000 after acquiring an additional 1,860 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Diamond Offshore Drilling by 32.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,004,510 shares of the offshore drilling services provider’s stock valued at $37,804,000 after acquiring an additional 992,277 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Diamond Offshore Drilling by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 682,114 shares of the offshore drilling services provider’s stock valued at $6,439,000 after acquiring an additional 27,144 shares during the period.

NYSE DO traded down $0.77 during trading hours on Friday, reaching $7.41. 2,840,478 shares of the company were exchanged, compared to its average volume of 1,741,710. Diamond Offshore Drilling has a 1 year low of $7.12 and a 1 year high of $20.85. The firm has a 50 day simple moving average of $8.40. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.56. The company has a market cap of $1.24 billion, a PE ratio of -6.33 and a beta of 1.69.

Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.

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Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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