Susquehanna Bancshares set a $17.00 price objective on Diamond Offshore Drilling (NYSE:DO) in a research report report published on Friday. The brokerage currently has a hold rating on the offshore drilling services provider’s stock.
A number of other research firms have also weighed in on DO. UBS Group raised shares of Diamond Offshore Drilling from a neutral rating to a buy rating and upped their target price for the stock from $12.00 to $15.00 in a report on Monday, September 25th. ValuEngine raised shares of Diamond Offshore Drilling from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Jefferies Group set a $15.00 target price on shares of Diamond Offshore Drilling and gave the stock a hold rating in a report on Monday, October 30th. Citigroup lowered shares of Diamond Offshore Drilling from a neutral rating to a sell rating and set a $12.00 price target on the stock. in a report on Thursday, October 12th. Finally, Piper Jaffray Companies reissued an underweight rating on shares of Diamond Offshore Drilling in a report on Thursday. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $15.01.
Diamond Offshore Drilling (NYSE:DO) traded up $0.17 during trading on Friday, reaching $20.13. 1,202,200 shares of the company were exchanged, compared to its average volume of 1,445,744. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52. The company has a market cap of $2,760.00, a price-to-earnings ratio of 16.64 and a beta of 1.28. Diamond Offshore Drilling has a twelve month low of $10.06 and a twelve month high of $20.41.
Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. The business had revenue of $366.02 million for the quarter, compared to analyst estimates of $365.38 million. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. Diamond Offshore Drilling’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. research analysts anticipate that Diamond Offshore Drilling will post 0.88 earnings per share for the current year.
In other news, Director Charles Fabrikant sold 1,500 shares of the company’s stock in a transaction on Friday, December 28th. The shares were sold at an average price of $18.55, for a total value of $27,825.00. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $18,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Diamond Offshore Drilling by 22.0% during the 2nd quarter. BlackRock Inc. now owns 9,209,573 shares of the offshore drilling services provider’s stock valued at $99,741,000 after buying an additional 1,658,687 shares during the period. Contrarius Investment Management Ltd raised its holdings in Diamond Offshore Drilling by 13.7% in the 3rd quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock worth $108,925,000 after purchasing an additional 905,595 shares in the last quarter. State Street Corp raised its holdings in Diamond Offshore Drilling by 27.3% in the 2nd quarter. State Street Corp now owns 3,021,468 shares of the offshore drilling services provider’s stock worth $32,721,000 after purchasing an additional 648,077 shares in the last quarter. Majedie Asset Management Ltd raised its holdings in Diamond Offshore Drilling by 121.9% in the 3rd quarter. Majedie Asset Management Ltd now owns 2,570,583 shares of the offshore drilling services provider’s stock worth $37,273,000 after purchasing an additional 1,412,327 shares in the last quarter. Finally, Horseman Capital Management Ltd bought a new position in Diamond Offshore Drilling in the 3rd quarter worth $30,944,000.
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About Diamond Offshore Drilling
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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