Diamond Offshore Drilling, Inc. (DO) Given a $15.00 Price Target by Royal Bank Of Canada Analysts

Royal Bank Of Canada set a $15.00 target price on Diamond Offshore Drilling, Inc. (NYSE:DO) in a research report released on Saturday, October 7th. The firm currently has a hold rating on the offshore drilling services provider’s stock.

A number of other brokerages have also recently commented on DO. Piper Jaffray Companies restated a hold rating and set a $9.33 target price on shares of Diamond Offshore Drilling in a report on Tuesday, September 19th. UBS AG upgraded Diamond Offshore Drilling from a neutral rating to a buy rating and lifted their price objective for the company from $12.00 to $15.00 in a research note on Monday, September 25th. ValuEngine upgraded Diamond Offshore Drilling from a hold rating to a buy rating in a research note on Wednesday, September 6th. BidaskClub upgraded Diamond Offshore Drilling from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Finally, Seaport Global Securities reiterated a sell rating on shares of Diamond Offshore Drilling in a research note on Monday, July 31st. Nine equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $14.60.

Shares of Diamond Offshore Drilling (DO) opened at 15.34 on Friday. Diamond Offshore Drilling has a 12-month low of $10.06 and a 12-month high of $22.65. The company has a market capitalization of $2.11 billion, a P/E ratio of 12.47 and a beta of 1.19. The company has a 50 day moving average price of $13.96 and a 200 day moving average price of $12.89.

Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.21. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The company had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $381.50 million. During the same period last year, the business posted $0.16 EPS. Diamond Offshore Drilling’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts anticipate that Diamond Offshore Drilling will post $0.91 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. Hikari Power Ltd raised its stake in Diamond Offshore Drilling by 416.6% during the second quarter. Hikari Power Ltd now owns 567,700 shares of the offshore drilling services provider’s stock valued at $6,148,000 after buying an additional 457,800 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Diamond Offshore Drilling by 522.1% during the second quarter. BNP Paribas Arbitrage SA now owns 119,776 shares of the offshore drilling services provider’s stock valued at $1,297,000 after buying an additional 100,521 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Diamond Offshore Drilling during the first quarter valued at approximately $680,000. First Trust Advisors LP raised its stake in Diamond Offshore Drilling by 20.7% during the second quarter. First Trust Advisors LP now owns 239,230 shares of the offshore drilling services provider’s stock valued at $2,591,000 after buying an additional 40,955 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Diamond Offshore Drilling by 7,375.1% during the 1st quarter. BlackRock Inc. now owns 7,550,886 shares of the offshore drilling services provider’s stock worth $126,177,000 after purchasing an additional 7,449,872 shares during the period.

About Diamond Offshore Drilling

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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