Vetr downgraded shares of Diamond Offshore Drilling Inc. (NYSE:DO) from a strong-buy rating to a buy rating in a research note issued to investors on Monday. Vetr currently has $18.75 target price on the offshore drilling services provider’s stock.

Other analysts also recently issued reports about the company. Seaport Global Securities downgraded Diamond Offshore Drilling from an accumulate rating to a neutral rating and set a $17.00 price objective for the company. in a report on Friday. Bank of America Corp. started coverage on Diamond Offshore Drilling in a report on Monday, June 13th. They set a buy rating and a $34.00 price objective for the company. Royal Bank Of Canada dropped their price objective on Diamond Offshore Drilling from $29.00 to $23.00 and set a sector perform rating for the company in a report on Friday, August 12th. Zacks Investment Research upgraded Diamond Offshore Drilling from a hold rating to a buy rating and set a $27.00 price objective for the company in a report on Tuesday, July 12th. Finally, Credit Suisse Group AG restated a hold rating and set a $18.00 price objective on shares of Diamond Offshore Drilling in a report on Wednesday, August 3rd. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company. Diamond Offshore Drilling has an average rating of Hold and an average price target of $20.20.

Diamond Offshore Drilling (NYSE:DO) traded down 1.08% on Monday, reaching $17.43. The company had a trading volume of 221,283 shares. The stock’s 50-day moving average price is $16.88 and its 200 day moving average price is $21.72. The firm’s market capitalization is $2.39 billion. Diamond Offshore Drilling has a 52-week low of $14.18 and a 52-week high of $26.72.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings results on Monday, August 1st. The offshore drilling services provider reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The company earned $388.75 million during the quarter, compared to the consensus estimate of $374.17 million. Diamond Offshore Drilling had a positive return on equity of 9.12% and a negative net margin of 30.20%. Diamond Offshore Drilling’s revenue was down 38.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 EPS. On average, equities analysts anticipate that Diamond Offshore Drilling will post $1.01 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. TIAA CREF Investment Management LLC raised its stake in Diamond Offshore Drilling by 105.5% in the first quarter. TIAA CREF Investment Management LLC now owns 287,594 shares of the offshore drilling services provider’s stock valued at $6,249,000 after buying an additional 147,662 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Diamond Offshore Drilling by 290.6% in the first quarter. JPMorgan Chase & Co. now owns 182,609 shares of the offshore drilling services provider’s stock valued at $3,968,000 after buying an additional 135,861 shares in the last quarter. Teachers Advisors Inc. raised its stake in Diamond Offshore Drilling by 73.6% in the first quarter. Teachers Advisors Inc. now owns 111,587 shares of the offshore drilling services provider’s stock valued at $2,425,000 after buying an additional 47,306 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Diamond Offshore Drilling by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,117,935 shares of the offshore drilling services provider’s stock valued at $124,520,000 after buying an additional 1,440,650 shares in the last quarter. Finally, Seven Eight Capital LLC bought a new stake in Diamond Offshore Drilling during the first quarter valued at about $327,000.

About Diamond Offshore Drilling

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).

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