Analysts at HSBC Holdings plc began coverage on shares of Diamond Offshore Drilling, Inc. (NYSE:DO) in a report released on Thursday, Marketbeat Ratings reports. The firm set a “hold” rating and a $15.80 price target on the offshore drilling services provider’s stock. HSBC Holdings plc’s price objective points to a potential upside of 5.47% from the stock’s current price.

Several other equities analysts have also commented on DO. Seaport Global Securities lowered shares of Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $12.00 to $9.00 in a research report on Wednesday, June 21st. BidaskClub lowered shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Bank of America Corporation lowered shares of Diamond Offshore Drilling from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $22.00 to $12.00 in a research report on Friday, June 30th. Jefferies Group LLC set a $14.00 price objective on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Saturday, July 1st. Finally, Zephirin Group reaffirmed a “sell” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, August 2nd. Nine research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $14.61.

Shares of Diamond Offshore Drilling (DO) traded up 0.9860% on Thursday, reaching $15.1277. 654,281 shares of the company were exchanged. The company’s 50-day moving average is $13.85 and its 200-day moving average is $12.87. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 12.2989 and a beta of 1.19. Diamond Offshore Drilling has a 52 week low of $10.06 and a 52 week high of $22.65.

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, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.21. The business had revenue of $399.30 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, equities analysts expect that Diamond Offshore Drilling will post $0.91 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of DO. BlackRock Inc. raised its holdings in shares of Diamond Offshore Drilling by 7,375.1% during the 1st quarter. BlackRock Inc. now owns 7,550,886 shares of the offshore drilling services provider’s stock worth $126,177,000 after acquiring an additional 7,449,872 shares during the period. Contrarius Investment Management Ltd raised its holdings in Diamond Offshore Drilling by 99.0% in the 2nd quarter. Contrarius Investment Management Ltd now owns 6,606,440 shares of the offshore drilling services provider’s stock valued at $71,548,000 after buying an additional 3,286,580 shares during the period. Equity Investment Corp Acquisition Inc raised its holdings in Diamond Offshore Drilling by 76.1% in the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 4,566,588 shares of the offshore drilling services provider’s stock valued at $49,456,000 after buying an additional 1,973,653 shares during the period. Balyasny Asset Management LLC raised its holdings in Diamond Offshore Drilling by 3,073.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,136,000 shares of the offshore drilling services provider’s stock valued at $12,303,000 after buying an additional 1,100,200 shares during the period. Finally, Pastel & Associes SA raised its holdings in Diamond Offshore Drilling by 168.2% in the 2nd quarter. Pastel & Associes SA now owns 1,204,455 shares of the offshore drilling services provider’s stock valued at $13,044,000 after buying an additional 755,335 shares during the period.

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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