Diamond Offshore Drilling (DO) Downgraded by SEB Equity Research to Underperform

Diamond Offshore Drilling (NYSE:DO) was downgraded by SEB Equity Research from a “market perform” rating to an “underperform” rating in a research report issued on Friday, The Fly reports.

Other equities research analysts also recently issued research reports about the stock. B. Riley reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, November 1st. UBS Group downgraded shares of Diamond Offshore Drilling to an “underperform” rating in a research note on Friday. Jefferies Group reaffirmed a “sell” rating and set a $14.00 price target on shares of Diamond Offshore Drilling in a research note on Wednesday. TheStreet raised shares of Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. Finally, ValuEngine raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Eleven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. Diamond Offshore Drilling presently has an average rating of “Hold” and an average target price of $14.92.

Shares of Diamond Offshore Drilling (DO) opened at $14.92 on Friday. Diamond Offshore Drilling has a one year low of $10.06 and a one year high of $20.41. The stock has a market cap of $2,136.64, a price-to-earnings ratio of 12.23 and a beta of 1.13. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.52.

In other news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $18.55, for a total value of $27,825.00. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $18,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in shares of Diamond Offshore Drilling in the 3rd quarter worth about $126,000. Wright Investors Service Inc. bought a new stake in shares of Diamond Offshore Drilling in the 4th quarter worth about $204,000. US Bancorp DE increased its position in shares of Diamond Offshore Drilling by 77.5% in the 4th quarter. US Bancorp DE now owns 11,957 shares of the offshore drilling services provider’s stock worth $222,000 after purchasing an additional 5,219 shares during the last quarter. Shell Asset Management Co. acquired a new position in shares of Diamond Offshore Drilling in the 3rd quarter valued at about $415,000. Finally, M&T Bank Corp acquired a new position in shares of Diamond Offshore Drilling in the 2nd quarter valued at about $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.

The Fly

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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