Diamond Offshore Drilling, Inc. (NYSE:DO)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $15.68, but opened at $15.00. Diamond Offshore Drilling shares last traded at $14.47, with a volume of 2,984,027 shares trading hands.

DO has been the topic of a number of recent analyst reports. UBS AG raised shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $15.00 in a research note on Monday, September 25th. Jefferies Group LLC set a $14.00 target price on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Saturday, July 1st. Clarkson Capital raised shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research note on Friday, September 1st. Seaport Global Securities reaffirmed a “sell” rating on shares of Diamond Offshore Drilling in a research note on Monday, July 31st. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $11.00 target price on shares of Diamond Offshore Drilling in a research note on Tuesday, September 5th. Ten investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.42.

The stock has a 50 day moving average of $13.42 and a 200-day moving average of $12.93. The stock has a market cap of $1.99 billion, a PE ratio of 11.76 and a beta of 1.19.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.21. The company had revenue of $399.30 million for 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 firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. On average, equities research analysts anticipate that Diamond Offshore Drilling, Inc. will post $0.92 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in DO. Lazard Asset Management LLC increased its position in shares of Diamond Offshore Drilling by 10.2% during the first quarter. Lazard Asset Management LLC now owns 6,685 shares of the offshore drilling services provider’s stock valued at $111,000 after buying an additional 620 shares during the period. Raymond James Trust N.A. bought a new stake in shares of Diamond Offshore Drilling during the second quarter valued at about $118,000. BlueMountain Capital Management LLC bought a new stake in shares of Diamond Offshore Drilling during the second quarter valued at about $119,000. Zacks Investment Management bought a new stake in shares of Diamond Offshore Drilling during the second quarter valued at about $124,000. Finally, Advantus Capital Management Inc increased its position in shares of Diamond Offshore Drilling by 3.0% during the first quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock valued at $138,000 after buying an additional 242 shares during the period.

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About Diamond Offshore Drilling

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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