Traders bought shares of Diamond Offshore Drilling, Inc. (NYSE:DO) on weakness during trading hours on Tuesday. $19.77 million flowed into the stock on the tick-up and $5.38 million flowed out of the stock on the tick-down, for a money net flow of $14.39 million into the stock. Of all companies tracked, Diamond Offshore Drilling had the 23rd highest net in-flow for the day. Diamond Offshore Drilling traded down ($0.08) for the day and closed at $16.08

A number of equities research analysts recently issued reports on DO shares. UBS Group AG raised Diamond Offshore Drilling from a “neutral” rating to a “buy” rating and raised their price target for the stock from $12.00 to $15.00 in a research note on Monday, September 25th. Clarkson Capital raised Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research note on Friday, September 1st. ValuEngine raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Pareto Securities raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Friday, August 18th. Finally, Zacks Investment Research raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Monday, October 16th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $14.71.

The stock has a market capitalization of $2,206.62, a price-to-earnings ratio of 9.35 and a beta of 1.31. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.58.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The business had revenue of $366.02 million for the quarter, compared to the consensus estimate of $365.38 million. During the same period last year, the business posted $0.10 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. equities research analysts expect that Diamond Offshore Drilling, Inc. will post 0.9 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in DO. Raymond James Trust N.A. purchased a new position in Diamond Offshore Drilling during the 2nd quarter worth $118,000. BlueMountain Capital Management LLC purchased a new position in Diamond Offshore Drilling during the 2nd quarter worth $119,000. Zacks Investment Management purchased a new position in Diamond Offshore Drilling during the 2nd quarter worth $124,000. Victory Capital Management Inc. purchased a new position in Diamond Offshore Drilling during the 3rd quarter worth $126,000. Finally, M&T Bank Corp purchased a new position in Diamond Offshore Drilling during the 2nd quarter worth $139,000.

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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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