Shares of Diamond Offshore Drilling Inc. (NYSE:DO) have been assigned an average rating of “Hold” from the thirty-one analysts that are presently covering the firm. Seven equities research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.42.

A number of analysts have recently issued reports on DO shares. Scotiabank restated a “sector perform” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, September 14th. upgraded shares of Diamond Offshore Drilling from a “sell” rating to an “underperform” rating in a research note on Monday, October 17th. Vetr upgraded shares of Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating and set a $19.33 price objective for the company in a research note on Wednesday, October 5th. Credit Suisse Group AG reiterated a “hold” rating and issued a $18.00 price objective on shares of Diamond Offshore Drilling in a research note on Monday, September 26th. Finally, Citigroup Inc. dropped their price objective on shares of Diamond Offshore Drilling from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, August 25th.

Diamond Offshore Drilling (NYSE:DO) opened at 16.91 on Thursday. The firm’s market capitalization is $2.32 billion. Diamond Offshore Drilling has a 12 month low of $14.18 and a 12 month high of $26.72. The stock’s 50 day moving average is $16.86 and its 200-day moving average is $20.48.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, October 31st. The offshore drilling services provider reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company earned $349.20 million during the quarter, compared to analysts’ expectations of $365.03 million. Diamond Offshore Drilling had a negative net margin of 41.61% and a positive return on equity of 6.32%. Diamond Offshore Drilling’s quarterly revenue was down 42.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 EPS. Equities analysts anticipate that Diamond Offshore Drilling will post $1.00 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in DO. Teachers Advisors Inc. raised 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 period. JPMorgan Chase & Co. raised 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 worth $3,968,000 after buying an additional 135,861 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Diamond Offshore Drilling by 91.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 97,860 shares of the offshore drilling services provider’s stock worth $2,126,000 after buying an additional 46,740 shares during the period. Babson Capital Management LLC raised its stake in shares of Diamond Offshore Drilling by 7.3% in the first quarter. Babson Capital Management LLC now owns 89,763 shares of the offshore drilling services provider’s stock worth $1,951,000 after buying an additional 6,100 shares during the period. Finally, Seven Eight Capital LLC acquired a new stake in shares of Diamond Offshore Drilling during the first quarter worth approximately $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).

5 Day Chart for NYSE:DO

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