Diamond Offshore Drilling Inc (NYSE:DO) was the target of some unusual options trading on Thursday. Stock traders purchased 8,577 put options on the company. This represents an increase of approximately 1,832% compared to the typical volume of 444 put options.
A number of research firms have issued reports on DO. Cowen set a $18.00 price target on Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Thursday, January 11th. Susquehanna Bancshares set a $17.00 price target on Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Friday, January 12th. Jefferies Group downgraded Diamond Offshore Drilling from a “hold” rating to an “underperform” rating and set a $15.00 price target for the company. in a research note on Thursday, January 4th. Piper Jaffray Companies reiterated an “underweight” rating on shares of Diamond Offshore Drilling in a research note on Thursday, January 11th. Finally, Clarkson Capital downgraded Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $15.01.
Diamond Offshore Drilling (DO) opened at $19.63 on Friday. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $20.41. The firm has a market capitalization of $2,644.38, a P/E ratio of 16.09 and a beta of 1.29. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52.
In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $18.55, for a total transaction of $27,825.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at approximately $18,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Trust N.A. purchased a new position in Diamond Offshore Drilling in the second quarter valued at approximately $118,000. BlueMountain Capital Management LLC purchased a new position in Diamond Offshore Drilling in the second quarter valued at approximately $119,000. Zacks Investment Management purchased a new position in Diamond Offshore Drilling in the second quarter valued at approximately $124,000. Victory Capital Management Inc. purchased a new position in Diamond Offshore Drilling in the third quarter valued at approximately $126,000. Finally, M&T Bank Corp purchased a new position in Diamond Offshore Drilling in the second quarter valued at approximately $139,000.
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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.
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