Diamond Offshore Drilling Inc (DO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Diamond Offshore Drilling Inc (NYSE:DO) have been given an average rating of “Hold” by the twenty-seven analysts that are presently covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $15.61.

DO has been the topic of a number of recent research reports. Zacks Investment Research raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Monday, October 16th. UBS Group raised Diamond Offshore Drilling from a “neutral” rating to a “buy” rating and raised their price target for the company from $12.00 to $15.00 in a report on Monday, September 25th. Jefferies Group set a $15.00 price target on Diamond Offshore Drilling and gave the company a “hold” rating in a report on Monday, October 30th. FBR & Co set a $13.00 price target on Diamond Offshore Drilling and gave the company a “hold” rating in a report on Monday, October 30th. Finally, started coverage on Diamond Offshore Drilling in a report on Thursday, October 19th. They issued a “hold” rating and a $15.80 price target on the stock.

In other news, Director Charles Fabrikant sold 1,500 shares of the 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 transaction, the director now directly owns 1,000 shares in the company, valued at approximately $18,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its position in Diamond Offshore Drilling by 6.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 509,593 shares of the offshore drilling services provider’s stock worth $9,474,000 after acquiring an additional 32,106 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in Diamond Offshore Drilling during the 4th quarter worth approximately $372,000. GSA Capital Partners LLP bought a new position in Diamond Offshore Drilling during the 3rd quarter worth approximately $1,209,000. California Public Employees Retirement System grew its position in Diamond Offshore Drilling by 98.0% during the 3rd quarter. California Public Employees Retirement System now owns 825,261 shares of the offshore drilling services provider’s stock worth $11,966,000 after acquiring an additional 408,516 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Diamond Offshore Drilling by 959.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 625,300 shares of the offshore drilling services provider’s stock worth $9,067,000 after acquiring an additional 566,300 shares during the last quarter.

Shares of Diamond Offshore Drilling (DO) opened at $19.92 on Tuesday. The stock has a market capitalization of $2,693.78, a PE ratio of 16.33 and a beta of 1.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.58. Diamond Offshore Drilling has a 1-year low of $10.06 and a 1-year high of $20.41.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $366.02 million for the quarter, compared to analysts’ expectations of $365.38 million. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. analysts expect that Diamond Offshore Drilling will post 0.87 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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