Diamond Offshore Drilling, Inc. (NYSE:DO) has been given an average rating of “Hold” by the twenty-seven analysts that are currently covering the company, MarketBeat reports. Ten equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $14.30.

Several research firms recently weighed in on DO. BidaskClub lowered shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Seaport Global Securities lowered shares of Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and reduced their target price for the company from $12.00 to $9.00 in a report on Wednesday, June 21st. Jefferies Group LLC set a $14.00 target price on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a report on Saturday, July 1st. Pareto Securities raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, August 18th. Finally, FBR & Co raised shares of Diamond Offshore Drilling from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research note on Tuesday, October 10th.

Large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC grew its position in shares of Diamond Offshore Drilling by 10.2% during the 1st quarter. Lazard Asset Management LLC now owns 6,685 shares of the offshore drilling services provider’s stock valued at $111,000 after buying an additional 620 shares during the last quarter. Advantus Capital Management Inc grew its position in shares of Diamond Offshore Drilling by 3.0% during the 1st quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock valued at $138,000 after buying an additional 242 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Diamond Offshore Drilling during the 1st quarter valued at about $170,000. Raymond James Trust N.A. bought a new stake in shares of Diamond Offshore Drilling during the 2nd quarter valued at about $118,000. Finally, BlueMountain Capital Management LLC bought a new stake in shares of Diamond Offshore Drilling during the 2nd quarter valued at about $119,000.

Diamond Offshore Drilling (NYSE DO) traded up 4.28% during mid-day trading on Friday, hitting $15.09. The stock had a trading volume of 2,581,570 shares. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 12.27 and a beta of 1.19. The company has a 50 day moving average price of $13.59 and a 200-day moving average price of $12.90. Diamond Offshore Drilling has a one year low of $10.06 and a one year high of $22.65.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.21. The business had revenue of $399.30 million for the quarter, compared to analyst estimates of $381.50 million. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 EPS. Equities analysts expect that Diamond Offshore Drilling will post $0.91 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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