Vetr upgraded shares of Diamond Offshore Drilling Inc. (NYSE:DO) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning. They currently have $19.33 price target on the offshore drilling services provider’s stock.
A number of other brokerages also recently issued reports on DO. Nomura raised their price objective on Diamond Offshore Drilling from $16.00 to $17.00 and gave the stock a reduce rating in a research report on Tuesday, August 16th. Bank of America Corp. started coverage on Diamond Offshore Drilling in a research note on Monday, June 13th. They set a buy rating and a $34.00 target price for the company. Howard Weil started coverage on Diamond Offshore Drilling in a research note on Wednesday, September 14th. They set a sector perform rating and a $17.00 target price for the company. Jefferies Group reaffirmed a hold rating and set a $22.00 target price on shares of Diamond Offshore Drilling in a research note on Monday, August 1st. Finally, Zephirin Group raised Diamond Offshore Drilling from a hold rating to a buy rating and set a $22.00 target price for the company in a research note on Monday, September 19th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Diamond Offshore Drilling presently has a consensus rating of Hold and a consensus price target of $20.54.
Diamond Offshore Drilling (NYSE:DO) traded down 0.53% during trading on Wednesday, hitting $16.76. The stock had a trading volume of 279,518 shares. Diamond Offshore Drilling has a 52 week low of $14.18 and a 52 week high of $26.72. The company has a 50-day moving average of $17.12 and a 200 day moving average of $21.85. The company’s market cap is $2.30 billion.
Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, August 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. Diamond Offshore Drilling had a positive return on equity of 9.12% and a negative net margin of 30.20%. The company earned $388.75 million during the quarter, compared to the consensus estimate of $374.17 million. During the same period last year, the company earned $0.66 earnings per share. The firm’s revenue was down 38.7% compared to the same quarter last year. On average, equities research analysts anticipate that Diamond Offshore Drilling will post $1.02 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the company. New England Research & Management Inc. acquired a new position in Diamond Offshore Drilling during the third quarter valued at approximately $291,000. BNP Paribas Arbitrage SA boosted its position in Diamond Offshore Drilling by 10.5% in the third quarter. BNP Paribas Arbitrage SA now owns 31,579 shares of the offshore drilling services provider’s stock worth $556,000 after buying an additional 2,990 shares during the last quarter. Macquarie Group Ltd. purchased a new position in Diamond Offshore Drilling during the second quarter worth about $951,000. Mason Street Advisors LLC purchased a new position in Diamond Offshore Drilling during the second quarter worth about $211,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Diamond Offshore Drilling by 2.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 34,505 shares of the offshore drilling services provider’s stock worth $837,000 after buying an additional 937 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.
Diamond Offshore Drilling Company Profile
Diamond Offshore Drilling, Inc is engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. Its fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water).
To view Vetr’s full report, visit Vetr’s official website.
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