Diamond Offshore Drilling (NYSE:DO) was upgraded by stock analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

Other research analysts have also recently issued reports about the stock. 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 report on Friday, August 18th. B. Riley reissued a “neutral” rating on shares of Diamond Offshore Drilling in a report on Wednesday, November 1st. 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 report on Tuesday, October 10th. Jefferies Group set a $15.00 price target on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a report on Monday, October 30th. Finally, Cowen reissued a “hold” rating and issued a $11.00 price target on shares of Diamond Offshore Drilling in a report on Tuesday, September 5th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $14.71.

Shares of Diamond Offshore Drilling (NYSE DO) traded up $0.64 during mid-day trading on Friday, hitting $16.68. 2,210,000 shares of the stock were exchanged, compared to its average volume of 1,872,271. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.58. The company has a market cap of $2,288.96, a PE ratio of 9.70 and a beta of 1.30. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $22.65.

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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The company had revenue of $366.02 million for the quarter, compared to analysts’ expectations of $365.38 million. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. Diamond Offshore Drilling’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. research analysts anticipate that Diamond Offshore Drilling will post 0.9 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of DO. Raymond James Trust N.A. acquired a new stake in shares of Diamond Offshore Drilling during the 2nd quarter worth approximately $118,000. BlueMountain Capital Management LLC acquired a new stake in shares of Diamond Offshore Drilling during the 2nd quarter worth approximately $119,000. Zacks Investment Management acquired a new stake in shares of Diamond Offshore Drilling during the 2nd quarter worth approximately $124,000. Victory Capital Management Inc. acquired a new stake in shares of Diamond Offshore Drilling during the 3rd quarter worth approximately $126,000. Finally, M&T Bank Corp acquired a new stake in shares of Diamond Offshore Drilling during the 2nd quarter worth approximately $139,000.

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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.

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Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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