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Diamond Offshore Drilling (NYSE:DO) was upgraded by investment analysts at Pareto from a “sell” rating to a “hold” rating in a note issued to investors on Thursday. The firm currently has a $44.00 price target on the stock. Pareto’s price target indicates a potential downside of 0.14% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank downgraded shares of Diamond Offshore Drilling from a “hold” rating to a “sell” rating in a research note on Thursday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Wednesday. They now have a $46.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $50.05.

Diamond Offshore Drilling (NYSE:DO) opened at 44.06 on Thursday. Diamond Offshore Drilling has a 1-year low of $43.69 and a 1-year high of $66.34. The stock’s 50-day moving average is $47.25 and its 200-day moving average is $48.33. The company has a market cap of $6.043 billion and a price-to-earnings ratio of 14.37.

Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Thursday, July 24th. The company reported $0.58 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.58. The company had revenue of $692.24 million for the quarter, compared to the consensus estimate of $690.33 million. During the same quarter last year, the company posted $1.33 earnings per share. Diamond Offshore Drilling’s revenue was down 8.7% compared to the same quarter last year. On average, analysts predict that Diamond Offshore Drilling will post $3.17 earnings per share for the current fiscal year.

The company also recently announced a special dividend, which is scheduled for Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be paid a dividend of $0.75 per share. The ex-dividend date is Monday, August 4th.

Diamond Offshore Drilling, Inc is a global offshore oil and gas drilling contractor. The Company has a fleet of 44 offshore drilling rigs, consisting of 32 semisubmersibles, seven jack-ups and five dynamically positioned drillships, four of which are under construction.

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