Susquehanna Bancshares set a $17.00 price target on Diamond Offshore Drilling (NYSE:DO) in a report published on Friday morning. The brokerage currently has a hold rating on the offshore drilling services provider’s stock.

DO has been the subject of several other reports. Jefferies Group reaffirmed a neutral rating on shares of Diamond Offshore Drilling in a research note on Tuesday, October 31st. Cowen set a $18.00 price target on shares of Diamond Offshore Drilling and gave the stock a hold rating in a research note on Thursday. Piper Jaffray Companies reaffirmed a hold rating and set a $9.33 price target on shares of Diamond Offshore Drilling in a research note on Tuesday, September 19th. began coverage on shares of Diamond Offshore Drilling in a research note on Thursday, October 19th. They set a hold rating and a $15.80 price target for the company. Finally, Deutsche Bank began coverage on shares of Diamond Offshore Drilling in a research note on Tuesday, October 10th. They set a hold rating and a $15.00 price target for the company. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Diamond Offshore Drilling has an average rating of Hold and an average price target of $15.01.

Shares of Diamond Offshore Drilling (DO) traded up $0.17 on Friday, hitting $20.13. 1,202,254 shares of the stock traded hands, compared to its average volume of 1,276,353. The company has a market cap of $2,739.07, a PE ratio of 16.50 and a beta of 1.29. Diamond Offshore Drilling has a one year low of $10.06 and a one year high of $20.41. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $366.02 million during the quarter, compared to analysts’ expectations of $365.38 million. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. equities research analysts forecast that Diamond Offshore Drilling will post 0.89 EPS for the current year.

In other news, Director Charles Fabrikant sold 1,500 shares of the stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $18.55, for a total value of $27,825.00. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $18,550. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.03% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Contrarius Investment Management Ltd lifted its holdings in Diamond Offshore Drilling by 13.7% during the 3rd quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock valued at $108,925,000 after purchasing an additional 905,595 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Diamond Offshore Drilling by 6.0% during the third quarter. Commonwealth Bank of Australia now owns 185,541 shares of the offshore drilling services provider’s stock worth $2,687,000 after buying an additional 10,500 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Diamond Offshore Drilling during the third quarter worth $2,745,000. Principal Financial Group Inc. lifted its holdings in shares of Diamond Offshore Drilling by 4.6% during the second quarter. Principal Financial Group Inc. now owns 276,415 shares of the offshore drilling services provider’s stock worth $2,993,000 after buying an additional 12,282 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Diamond Offshore Drilling by 28.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 448,736 shares of the offshore drilling services provider’s stock worth $4,860,000 after buying an additional 98,561 shares in the last quarter.

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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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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