Diamond Offshore Drilling, Inc. (NYSE:DO) was downgraded by analysts at Bank of America Corporation from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday.

DO has been the subject of a number of other reports. ValuEngine raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Clarkson Capital raised shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $12.00 price target (down from $14.00) on shares of Diamond Offshore Drilling in a research note on Tuesday, July 18th. Royal Bank Of Canada set a $15.00 price target on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Saturday. Finally, UBS AG raised shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $15.00 in a research note on Monday, September 25th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.64.

Diamond Offshore Drilling (NYSE:DO) remained flat at $14.84 during midday trading on Monday. The company had a trading volume of 431,585 shares. The stock has a market cap of $2.04 billion, a PE ratio of 12.07 and a beta of 1.18. Diamond Offshore Drilling has a 52 week low of $10.06 and a 52 week high of $22.65. The stock’s 50-day moving average is $12.93 and its 200 day moving average is $12.95.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.21. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The firm had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $381.50 million. During the same period in the previous year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Diamond Offshore Drilling will post $0.92 earnings per share for the current year.

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Large investors have recently bought and sold shares of the company. Lazard Asset Management LLC raised its holdings in shares of Diamond Offshore Drilling by 10.2% in the 1st quarter. Lazard Asset Management LLC now owns 6,685 shares of the offshore drilling services provider’s stock valued at $111,000 after purchasing an additional 620 shares in the last quarter. Advantus Capital Management Inc raised its stake in shares of Diamond Offshore Drilling by 3.0% during the 1st quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock worth $138,000 after acquiring an additional 242 shares in the last quarter. Amalgamated Bank bought a new position in shares of Diamond Offshore Drilling during the 1st quarter worth approximately $170,000. Raymond James Trust N.A. bought a new position in shares of Diamond Offshore Drilling during the 2nd quarter worth approximately $118,000. Finally, BlueMountain Capital Management LLC bought a new position in shares of Diamond Offshore Drilling during the 2nd quarter worth approximately $119,000.

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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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