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.
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.
TRADEMARK VIOLATION NOTICE: This report was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/02/09/diamond-offshore-drilling-do-downgraded-by-seb-equity-research-to-underperform.html.
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.
Receive News & Ratings for Diamond Offshore Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling and related companies with MarketBeat.com's FREE daily email newsletter.