Credit Agricole SA upgraded shares of Diamond Offshore Drilling Inc. (NYSE:DO) from a sell rating to an underperform rating in a research note released on Monday morning.

DO has been the topic of several other reports. Scotiabank reissued a sector perform rating on shares of Diamond Offshore Drilling in a report on Wednesday, September 14th. Vetr raised Diamond Offshore Drilling from a buy rating to a strong-buy rating and set a $19.33 target price on the stock in a report on Wednesday, October 5th. Credit Suisse Group AG reaffirmed a hold rating and issued a $18.00 target price on shares of Diamond Offshore Drilling in a report on Monday, September 26th. Citigroup Inc. decreased their target price on Diamond Offshore Drilling from $25.00 to $21.00 and set a neutral rating on the stock in a report on Thursday, August 25th. Finally, Howard Weil started coverage on Diamond Offshore Drilling in a report on Wednesday, September 14th. They issued a sector perform rating and a $17.00 target price on the stock. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the company’s stock. Diamond Offshore Drilling has a consensus rating of Hold and an average target price of $20.20.

Shares of Diamond Offshore Drilling (NYSE:DO) traded down 1.55% during midday trading on Monday, reaching $17.16. The company’s stock had a trading volume of 437,905 shares. Diamond Offshore Drilling has a 12 month low of $14.18 and a 12 month high of $26.72. The company’s 50-day moving average price is $16.63 and its 200-day moving average price is $21.56. The company’s market cap is $2.35 billion.

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

Hedge funds have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC boosted 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 valued at $6,249,000 after buying an additional 147,662 shares in the last quarter. Lucus Advisors LLC acquired a new stake in shares of Diamond Offshore Drilling during the second quarter valued at about $344,000. Teachers Advisors Inc. boosted 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 valued at $2,425,000 after buying an additional 47,306 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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. Finally, Dimensional Fund Advisors LP boosted its stake in shares of 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.

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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