Diamond Offshore Drilling Inc. (NYSE:DO) has been assigned an average recommendation of “Hold” from the twenty-nine analysts that are currently covering the company. Six equities research analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $20.09.

Several analysts have commented on DO shares. Scotiabank reissued a “sector perform” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, September 14th. Vetr raised shares of Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating and set a $19.33 price target for the company in a research report on Wednesday, October 5th. Citigroup Inc. decreased their price target on shares of Diamond Offshore Drilling from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, August 25th. Howard Weil started coverage on shares of Diamond Offshore Drilling in a research report on Wednesday, September 14th. They set a “sector perform” rating and a $17.00 price target for the company. Finally, Credit Suisse Group AG reissued a “hold” rating and set a $18.00 price target on shares of Diamond Offshore Drilling in a research report on Monday, September 26th.

Diamond Offshore Drilling (NYSE:DO) traded down 1.15% during midday trading on Thursday, hitting $17.24. 1,452,649 shares of the stock traded hands. The company’s market cap is $2.36 billion. Diamond Offshore Drilling has a 52-week low of $14.18 and a 52-week high of $26.72. The firm’s 50-day moving average is $16.77 and its 200-day moving average is $21.66.

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

Hedge funds have recently modified their holdings of the company. TIAA CREF Investment Management LLC increased its stake in shares of 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 worth $6,249,000 after buying an additional 147,662 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of 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 worth $2,425,000 after buying an additional 47,306 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Diamond Offshore Drilling by 15.1% in the first quarter. Prudential Financial Inc. now owns 349,773 shares of the offshore drilling services provider’s stock worth $7,601,000 after buying an additional 45,910 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Diamond Offshore Drilling by 54.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,467,909 shares of the offshore drilling services provider’s stock worth $75,358,000 after buying an additional 1,216,069 shares during the last quarter. Finally, Columbia Partners L L C Investment Management acquired a new stake in shares of Diamond Offshore Drilling during the first quarter worth about $791,000.

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).

5 Day Chart for NYSE:DO

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