Diamond Offshore Drilling (NYSE:DO) was downgraded by equities research analysts at TheStreet from a “c-” rating to a “d” rating in a research report issued on Monday.

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their price objective on shares of Diamond Offshore Drilling from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday, October 16th. ValuEngine upgraded shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada set a $19.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Thursday, December 21st. Finally, Jefferies Group set a $15.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Monday, October 30th. Twelve investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. Diamond Offshore Drilling presently has an average rating of “Hold” and an average price target of $14.59.

Diamond Offshore Drilling (NYSE DO) opened at $14.09 on Monday. 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 has a 1-year low of $10.06 and a 1-year high of $20.41. The stock has a market cap of $1,930.00, a price-to-earnings ratio of 108.38 and a beta of 1.13.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Diamond Offshore Drilling had a net margin of 1.23% and a return on equity of 2.96%. The business had revenue of $346.20 million for the quarter, compared to analyst estimates of $331.98 million. During the same period in the previous year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. sell-side analysts anticipate that Diamond Offshore Drilling will post -0.08 EPS for the current fiscal year.

In related news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $18.55, for a total transaction of $27,825.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at $18,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.03% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Contrarius Investment Management Ltd raised its position in shares of Diamond Offshore Drilling by 13.7% in the third quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock worth $108,925,000 after acquiring an additional 905,595 shares during the period. Commonwealth Bank of Australia raised its position in shares of Diamond Offshore Drilling by 6.0% in 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 acquiring an additional 10,500 shares during the period. Point72 Asset Management L.P. raised its position in shares of Diamond Offshore Drilling by 959.8% in the third quarter. Point72 Asset Management L.P. now owns 625,300 shares of the offshore drilling services provider’s stock worth $9,067,000 after acquiring an additional 566,300 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Diamond Offshore Drilling in the third quarter worth about $2,745,000. Finally, Schroder Investment Management Group raised its position in shares of Diamond Offshore Drilling by 90.4% in the third quarter. Schroder Investment Management Group now owns 742,900 shares of the offshore drilling services provider’s stock worth $10,631,000 after acquiring an additional 352,700 shares during the period.

TRADEMARK VIOLATION NOTICE: This news story was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2018/02/14/thestreet-downgrades-diamond-offshore-drilling-do-to-d.html.

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)

Receive News & Ratings for Diamond Offshore Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling and related companies with MarketBeat.com's FREE daily email newsletter.