Diamond Offshore Drilling (DO) Price Target Increased to $14.00 by Analysts at Barclays

Diamond Offshore Drilling (NYSE:DO) had its price objective lifted by Barclays from $13.00 to $14.00 in a report released on Thursday. They currently have an underweight rating on the offshore drilling services provider’s stock.

A number of other analysts have also commented on the stock. Jefferies Financial Group reissued a sell rating and issued a $16.00 price objective on shares of Diamond Offshore Drilling in a research report on Monday, July 30th. Cowen set a $16.00 price objective on shares of Diamond Offshore Drilling and gave the stock a hold rating in a research report on Friday, April 13th. Bank of America cut their price objective on shares of Diamond Offshore Drilling from $15.00 to $14.00 and set an underperform rating on the stock in a research report on Wednesday, April 18th. TheStreet lowered shares of Diamond Offshore Drilling from a c- rating to a d+ rating in a research report on Monday, July 30th. Finally, Credit Suisse Group reissued an underperform rating on shares of Diamond Offshore Drilling in a research report on Friday, April 13th. Nine investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Diamond Offshore Drilling currently has a consensus rating of Hold and a consensus price target of $15.68.

Shares of DO stock traded up $0.25 during trading on Thursday, reaching $18.40. The company’s stock had a trading volume of 780,195 shares, compared to its average volume of 1,460,357. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2.49 billion, a PE ratio of 22.44 and a beta of 1.15. Diamond Offshore Drilling has a one year low of $10.19 and a one year high of $21.92.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, July 30th. The offshore drilling services provider reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.06. The business had revenue of $268.90 million for the quarter, compared to analyst estimates of $279.83 million. Diamond Offshore Drilling had a negative net margin of 5.57% and a negative return on equity of 1.06%. The firm’s revenue for the quarter was down 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. equities analysts predict that Diamond Offshore Drilling will post -1.07 earnings per share for the current fiscal year.

In other Diamond Offshore Drilling news, SVP David L. Roland sold 1,744 shares of the company’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $19.73, for a total transaction of $34,409.12. Following the sale, the senior vice president now directly owns 9,194 shares of the company’s stock, valued at $181,397.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Diamond Offshore Drilling in the second quarter valued at about $108,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Diamond Offshore Drilling by 331.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,641 shares of the offshore drilling services provider’s stock valued at $142,000 after purchasing an additional 5,872 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in shares of Diamond Offshore Drilling by 56.2% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 13,197 shares of the offshore drilling services provider’s stock valued at $193,000 after purchasing an additional 4,750 shares during the period. ING Groep NV bought a new position in shares of Diamond Offshore Drilling in the second quarter valued at about $206,000. Finally, Ahrens Investment Partners LLC bought a new position in shares of Diamond Offshore Drilling in the first quarter valued at about $208,000.

Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.

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Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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