Diamond Offshore Drilling’s (DO) Sell Rating Reiterated at BMO Capital Markets

BMO Capital Markets restated their sell rating on shares of Diamond Offshore Drilling Inc (NYSE:DO) in a research note released on Tuesday, April 18th. The brokerage currently has a $14.50 price target on the offshore drilling services provider’s stock.

DO has been the topic of a number of other reports. Zephirin Group reissued a buy rating and set a $22.00 price target on shares of Diamond Offshore Drilling in a report on Tuesday, December 27th. Credit Suisse Group AG reaffirmed a hold rating and set a $18.00 price objective on shares of Diamond Offshore Drilling in a report on Sunday, February 5th. Pareto Securities raised shares of Diamond Offshore Drilling from a sell rating to a hold rating in a report on Tuesday, February 7th. Zacks Investment Research raised shares of Diamond Offshore Drilling from a hold rating to a strong-buy rating and set a $18.00 price objective on the stock in a report on Tuesday, April 11th. Finally, Barclays PLC upgraded shares of Diamond Offshore Drilling from an underweight rating to an equal weight rating and increased their target price for the company from $15.00 to $19.00 in a research report on Monday, January 9th. Eight investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $18.29.

Shares of Diamond Offshore Drilling (NYSE:DO) traded up 1.168% during midday trading on Tuesday, hitting $13.425. 2,186,958 shares of the company traded hands. The company has a 50-day moving average price of $14.96 and a 200-day moving average price of $16.73. The stock’s market capitalization is $1.84 billion. Diamond Offshore Drilling has a 52 week low of $13.03 and a 52 week high of $26.72.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, May 1st. The offshore drilling services provider reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. The firm had revenue of $374.22 million for the quarter, compared to analyst estimates of $366.03 million. Diamond Offshore Drilling had a negative net margin of 23.28% and a positive return on equity of 6.33%. The business’s quarterly revenue was down 20.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Analysts anticipate that Diamond Offshore Drilling will post $0.84 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of DO. Wellington Shields Capital Management LLC increased its position in shares of Diamond Offshore Drilling by 1.7% in the third quarter. Wellington Shields Capital Management LLC now owns 12,080 shares of the offshore drilling services provider’s stock valued at $213,000 after buying an additional 200 shares in the last quarter. State Treasurer State of Michigan increased its position in shares of Diamond Offshore Drilling by 0.8% in the first quarter. State Treasurer State of Michigan now owns 26,200 shares of the offshore drilling services provider’s stock valued at $438,000 after buying an additional 200 shares in the last quarter. Advantus Capital Management Inc increased its position in shares of Diamond Offshore Drilling by 3.0% in the first quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock valued at $138,000 after buying an additional 242 shares in the last quarter. Stephens Inc. AR increased its position in shares of Diamond Offshore Drilling by 0.5% in the first quarter. Stephens Inc. AR now owns 55,534 shares of the offshore drilling services provider’s stock valued at $928,000 after buying an additional 264 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Diamond Offshore Drilling by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 22,573 shares of the offshore drilling services provider’s stock valued at $377,000 after buying an additional 300 shares in the last quarter.

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.

5 Day Chart for NYSE:DO

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