Diamond Offshore Drilling (DO) Given a $13.00 Price Target at B. Riley

Diamond Offshore Drilling (NYSE:DO) received a $13.00 price target from B. Riley in a research note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the offshore drilling services provider’s stock. B. Riley’s price objective would suggest a potential downside of 9.72% from the company’s current price.

Several other brokerages have 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 research note 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 research note on Friday, January 12th. Barclays cut Diamond Offshore Drilling from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $19.92 to $13.00 in a research note on Tuesday, January 23rd. Jefferies Group cut Diamond Offshore Drilling from a “hold” rating to an “underperform” rating and set a $15.00 price objective on the stock. in a research note on Thursday, January 4th. Finally, TheStreet upgraded Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. Twelve equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. Diamond Offshore Drilling currently has an average rating of “Hold” and a consensus target price of $14.82.

Shares of Diamond Offshore Drilling (NYSE DO) traded down $0.74 on Tuesday, reaching $14.40. The company had a trading volume of 1,380,020 shares, compared to its average volume of 1,736,481. Diamond Offshore Drilling has a 52-week low of $10.06 and a 52-week high of $20.41. The company has a market capitalization of $2,043.32, a PE ratio of 11.77 and a beta of 1.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.58 and a quick ratio of 3.58.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The firm had revenue of $346.20 million for the quarter, compared to analysts’ expectations of $331.98 million. During the same period last year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. sell-side analysts predict that Diamond Offshore Drilling will post 0.86 EPS for the current year.

In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $18.55, for a total value of $27,825.00. Following the sale, the director now directly owns 1,000 shares in the company, valued at $18,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.03% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its holdings in shares of Diamond Offshore Drilling by 2.3% during the third quarter. Rhumbline Advisers now owns 137,428 shares of the offshore drilling services provider’s stock valued at $1,993,000 after purchasing an additional 3,069 shares during the period. Mutual of America Capital Management LLC increased its holdings in shares of Diamond Offshore Drilling by 7.2% during the third quarter. Mutual of America Capital Management LLC now owns 50,486 shares of the offshore drilling services provider’s stock valued at $732,000 after purchasing an additional 3,389 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Diamond Offshore Drilling by 9.7% during the third quarter. Envestnet Asset Management Inc. now owns 40,856 shares of the offshore drilling services provider’s stock valued at $592,000 after purchasing an additional 3,612 shares during the period. CIBC World Markets Inc. increased its holdings in shares of Diamond Offshore Drilling by 11.4% during the fourth quarter. CIBC World Markets Inc. now owns 36,173 shares of the offshore drilling services provider’s stock valued at $672,000 after purchasing an additional 3,700 shares during the period. Finally, TD Asset Management Inc. increased its holdings in shares of Diamond Offshore Drilling by 10.4% during the third quarter. TD Asset Management Inc. now owns 41,400 shares of the offshore drilling services provider’s stock valued at $600,000 after purchasing an additional 3,900 shares during the period.

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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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