Diamond Offshore Drilling, Inc. (NYSE:DO) Rating Reiterated by Barclays PLC

Diamond Offshore Drilling, Inc. (NYSE:DO)‘s stock had its “neutral” rating restated by equities researchers at Barclays PLC in a report issued on Sunday, November 5th.

A number of other equities analysts have also recently issued reports on DO. Jefferies Group LLC reiterated a “hold” rating and set a $12.00 target price (down previously from $14.00) on shares of Diamond Offshore Drilling in a report on Tuesday, July 18th. Zephirin Group restated a “sell” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, August 2nd. Seaport Global Securities restated a “sell” rating on shares of Diamond Offshore Drilling in a research note on Monday, July 31st. Piper Jaffray Companies reiterated a “hold” rating and issued a $12.50 target price on shares of Diamond Offshore Drilling in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. Diamond Offshore Drilling presently has an average rating of “Hold” and an average price target of $14.71.

Shares of Diamond Offshore Drilling (DO) opened at $16.06 on Friday. 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 1 year low of $10.06 and a 1 year high of $22.65. The company has a market cap of $2,160.00, a price-to-earnings ratio of 9.18 and a beta of 1.31.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The business had revenue of $366.02 million during the quarter, compared to analysts’ expectations of $365.38 million. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. equities research analysts forecast that Diamond Offshore Drilling will post 0.9 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Diamond Offshore Drilling by 22.0% in the second quarter. BlackRock Inc. now owns 9,209,573 shares of the offshore drilling services provider’s stock valued at $99,741,000 after purchasing an additional 1,658,687 shares in the last quarter. Contrarius Investment Management Ltd increased its position in shares of Diamond Offshore Drilling by 13.7% during the third quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock worth $108,925,000 after acquiring an additional 905,595 shares in the last quarter. Equity Investment Corp Acquisition Inc increased its position in shares of Diamond Offshore Drilling by 76.1% during the second quarter. Equity Investment Corp Acquisition Inc now owns 4,566,588 shares of the offshore drilling services provider’s stock worth $49,456,000 after acquiring an additional 1,973,653 shares in the last quarter. State Street Corp increased its position in shares of Diamond Offshore Drilling by 27.3% during the second quarter. State Street Corp now owns 3,021,468 shares of the offshore drilling services provider’s stock worth $32,721,000 after acquiring an additional 648,077 shares in the last quarter. Finally, Majedie Asset Management Ltd increased its position in shares of Diamond Offshore Drilling by 121.9% during the third quarter. Majedie Asset Management Ltd now owns 2,570,583 shares of the offshore drilling services provider’s stock worth $37,273,000 after acquiring an additional 1,412,327 shares in the last quarter.

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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