Diamond Offshore Drilling Inc (NYSE:DO) has earned a consensus rating of “Hold” from the nineteen analysts that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $7.43.
DO has been the subject of a number of research reports. Citigroup lifted their price objective on Diamond Offshore Drilling from $4.00 to $5.00 and gave the stock a “sell” rating in a research report on Monday, September 23rd. Fearnley Fonds downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating and set a $6.00 target price on the stock. in a research report on Monday, October 21st. HSBC lowered shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating and set a $5.70 target price on the stock. in a research note on Friday, December 6th. Nordea Equity Research upgraded shares of Diamond Offshore Drilling from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, ValuEngine raised shares of Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 30th.
A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its stake in shares of Diamond Offshore Drilling by 1.9% during the 3rd quarter. California State Teachers Retirement System now owns 101,140 shares of the offshore drilling services provider’s stock worth $562,000 after acquiring an additional 1,895 shares in the last quarter. State of Tennessee Treasury Department grew its holdings in shares of Diamond Offshore Drilling by 8.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 28,759 shares of the offshore drilling services provider’s stock valued at $160,000 after acquiring an additional 2,261 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Diamond Offshore Drilling by 16.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,064 shares of the offshore drilling services provider’s stock valued at $112,000 after acquiring an additional 2,849 shares in the last quarter. Foundation Resource Management Inc. increased its position in shares of Diamond Offshore Drilling by 1.6% in the third quarter. Foundation Resource Management Inc. now owns 330,487 shares of the offshore drilling services provider’s stock valued at $1,838,000 after acquiring an additional 5,211 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Diamond Offshore Drilling in the fourth quarter valued at about $43,000.
Shares of DO opened at $6.39 on Friday. The business’s fifty day moving average price is $6.50 and its two-hundred day moving average price is $6.61. The firm has a market capitalization of $879.87 million, a price-to-earnings ratio of -5.46 and a beta of 1.89. Diamond Offshore Drilling has a 52 week low of $4.77 and a 52 week high of $12.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.84 and a current ratio of 1.84.
Diamond Offshore Drilling (NYSE:DO) last released its earnings results on Monday, October 28th. The offshore drilling services provider reported ($0.67) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.01. Diamond Offshore Drilling had a negative return on equity of 10.44% and a negative net margin of 38.60%. The company had revenue of $254.00 million during the quarter, compared to the consensus estimate of $244.43 million. During the same quarter in the previous year, the company posted ($0.26) earnings per share. The firm’s quarterly revenue was down 11.3% on a year-over-year basis. As a group, research analysts forecast that Diamond Offshore Drilling will post -2.87 EPS for the current year.
About Diamond Offshore Drilling
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.
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