Diamond Offshore Drilling, Inc. (NYSE:DO) had its target price hoisted by stock analysts at UBS Group AG (USA) from $15.00 to $19.00 in a research report issued to clients and investors on Friday, www.benzinga.com reports. The brokerage currently has a “buy” rating on the offshore drilling services provider’s stock. UBS Group AG (USA)’s price objective suggests a potential upside of 15.64% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a report on Tuesday. FBR & Co set a $13.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a report on Monday, October 30th. Zacks Investment Research downgraded Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Cowen and Company set a $11.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a report on Wednesday, October 18th. Finally, HSBC Holdings plc assumed coverage on Diamond Offshore Drilling in a report on Thursday, October 19th. They set a “hold” rating and a $15.80 price objective on the stock. Nine research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.67.

Shares of Diamond Offshore Drilling (NYSE:DO) traded down $0.31 during mid-day trading on Friday, hitting $16.43. The company’s stock had a trading volume of 2,353,925 shares, compared to its average volume of 2,850,000. The firm has a market cap of $2.25 billion, a P/E ratio of 9.53 and a beta of 1.31. Diamond Offshore Drilling has a 52-week low of $10.06 and a 52-week high of $22.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.69 and a current ratio of 3.58.

Diamond Offshore Drilling (NYSE:DO) last issued its earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The firm had revenue of $366.02 million for the quarter, compared to the consensus estimate of $365.38 million. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. analysts expect that Diamond Offshore Drilling will post 0.9 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in shares of Diamond Offshore Drilling by 135.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 282,051 shares of the offshore drilling services provider’s stock worth $4,090,000 after acquiring an additional 162,275 shares in the last quarter. American Century Companies Inc. raised its position in shares of Diamond Offshore Drilling by 94.4% in the 3rd quarter. American Century Companies Inc. now owns 304,584 shares of the offshore drilling services provider’s stock worth $4,416,000 after acquiring an additional 147,939 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Diamond Offshore Drilling by 12.5% in the 3rd quarter. Gabelli Funds LLC now owns 45,000 shares of the offshore drilling services provider’s stock worth $653,000 after acquiring an additional 5,000 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Diamond Offshore Drilling in the 3rd quarter worth about $2,745,000. Finally, New York State Teachers Retirement System raised its position in shares of Diamond Offshore Drilling by 10.7% in the 3rd quarter. New York State Teachers Retirement System now owns 119,900 shares of the offshore drilling services provider’s stock worth $1,739,000 after acquiring an additional 11,600 shares in the last quarter.

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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