Diamond Offshore Drilling (NYSE:DO) has been assigned a $12.00 price target by stock analysts at Citigroup in a note issued to investors on Tuesday. The brokerage currently has a “sell” rating on the offshore drilling services provider’s stock. Citigroup’s price target suggests a potential downside of 14.83% from the company’s current price.
Several other research firms also recently issued reports on DO. Cowen set a $18.00 price objective on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $17.00 price objective on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Friday, January 12th. Barclays downgraded Diamond Offshore Drilling from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $19.92 to $13.00 in a report on Tuesday, January 23rd. Jefferies Group downgraded Diamond Offshore Drilling from a “hold” rating to an “underperform” rating and set a $15.00 price objective on the stock. in a report on Thursday, January 4th. Finally, TheStreet upgraded Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Twelve analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. Diamond Offshore Drilling currently has a consensus rating of “Hold” and a consensus price target of $14.70.
Shares of Diamond Offshore Drilling (NYSE:DO) traded down $1.05 during trading on Tuesday, reaching $14.09. 2,924,286 shares of the company’s stock traded hands, compared to its average volume of 1,720,000. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling has a 12-month low of $10.06 and a 12-month high of $20.41. The company has a market capitalization of $1,930.00, a PE ratio of 108.38 and a beta of 1.13.
In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction dated Thursday, 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 owns 1,000 shares of the company’s stock, valued at approximately $18,550. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. bought a new stake in shares of Diamond Offshore Drilling in the 3rd quarter valued at approximately $126,000. Itau Unibanco Holding S.A. bought a new stake in shares of Diamond Offshore Drilling in the 4th quarter valued at approximately $171,000. Wright Investors Service Inc. bought a new stake in shares of Diamond Offshore Drilling in the 4th quarter valued at approximately $204,000. Investors Research Corp bought a new stake in shares of Diamond Offshore Drilling in the 4th quarter valued at approximately $209,000. Finally, US Bancorp DE grew its stake 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 valued at $222,000 after buying an additional 5,219 shares in the last quarter.
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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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