An issue of Diamond Offshore Drilling, Inc. (NYSE:DO) debt rose 1.1% as a percentage of its face value during trading on Monday. The debt issue has a 7.875% coupon and is set to mature on August 15, 2025. The bonds in the issue are now trading at $102.56 and were trading at $101.00 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.

DO has been the subject of several research reports. ValuEngine raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Clarkson Capital raised shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and issued a $12.00 price objective (down from $14.00) on shares of Diamond Offshore Drilling in a research report on Tuesday, July 18th. BidaskClub raised shares of Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Finally, Bank of America Corporation cut shares of Diamond Offshore Drilling from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $12.00 in a research report on Friday, June 30th. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Diamond Offshore Drilling has a consensus rating of “Hold” and an average target price of $15.25.

Shares of Diamond Offshore Drilling, Inc. (DO) traded up 1.66% on Monday, reaching $12.89. 1,594,816 shares of the company’s stock were exchanged. Diamond Offshore Drilling, Inc. has a one year low of $10.06 and a one year high of $22.65. The firm has a market capitalization of $1.77 billion, a P/E ratio of 10.48 and a beta of 1.13. The firm has a 50 day moving average of $11.64 and a 200 day moving average of $13.21.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.21. The business had revenue of $399.30 million during the quarter, compared to the consensus estimate of $381.50 million. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. On average, equities research analysts predict that Diamond Offshore Drilling, Inc. will post $0.93 EPS for the current year.

Large investors have recently modified their holdings of the company. Lazard Asset Management LLC lifted its position in shares of Diamond Offshore Drilling by 10.2% during the 1st quarter. Lazard Asset Management LLC now owns 6,685 shares of the offshore drilling services provider’s stock worth $111,000 after buying an additional 620 shares during the last quarter. Raymond James Trust N.A. acquired a new position in shares of Diamond Offshore Drilling in the 2nd quarter valued at $118,000. BlueMountain Capital Management LLC acquired a new position in shares of Diamond Offshore Drilling in the 2nd quarter valued at $119,000. Zacks Investment Management acquired a new position in shares of Diamond Offshore Drilling in the 2nd quarter valued at $124,000. Finally, Advantus Capital Management Inc increased its holdings in shares of Diamond Offshore Drilling by 3.0% in the 1st quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock valued at $138,000 after acquiring an additional 242 shares during the period.

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Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig. Its fleet enables it to offer a range of services, primarily in the floater market, including ultra-deepwater, deepwater and mid-water.

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