Shares of Diamond Offshore Drilling Inc (NYSE:DO) hit a new 52-week low on Tuesday . The stock traded as low as $13.28 and last traded at $13.60, with a volume of 136206 shares. The stock had previously closed at $13.78.
Several brokerages have weighed in on DO. Zacks Investment Research upgraded shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, October 9th. UBS Group set a $26.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Jefferies Financial Group reiterated a “sell” rating and issued a $16.00 price objective on shares of Diamond Offshore Drilling in a research note on Monday, July 30th. Credit Suisse Group boosted their target price on shares of Diamond Offshore Drilling from $14.00 to $15.00 and gave the company an “underperform” rating in a research report on Tuesday, July 31st. Finally, B. Riley set a $17.00 target price on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Tuesday, July 31st. Eleven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $16.66.
The firm has a market cap of $2.02 billion, a PE ratio of 15.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.91 and a current ratio of 3.91.
Large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in shares of Diamond Offshore Drilling in the 2nd quarter valued at $108,000. Contravisory Investment Management Inc. bought a new stake in shares of Diamond Offshore Drilling in the 3rd quarter valued at $144,000. ING Groep NV bought a new stake in shares of Diamond Offshore Drilling in the 2nd quarter valued at $206,000. V Wealth Management LLC bought a new stake in shares of Diamond Offshore Drilling in the 2nd quarter valued at $238,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Diamond Offshore Drilling in the 2nd quarter valued at $275,000.
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About Diamond Offshore Drilling (NYSE:DO)
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.
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