Diamond Offshore Drilling Inc. (NYSE:DO) shares saw unusually-strong trading volume on Thursday . Approximately 2,021,369 shares traded hands during mid-day trading, a decline of 8% from the previous session’s volume of 2,205,771 shares.The stock last traded at $25.90 and had previously closed at $25.04.

A number of brokerages have issued reports on DO. Vetr downgraded shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating and set a $21.84 target price for the company. in a research report on Monday, May 9th. Zacks Investment Research cut shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Friday, April 22nd. Bank of America Corp. initiated coverage on shares of Diamond Offshore Drilling in a research note on Monday, June 13th. They set a “buy” rating and a $34.00 price target on the stock. Credit Suisse Group AG restated a “hold” rating and set a $18.00 price target on shares of Diamond Offshore Drilling in a research note on Tuesday, May 3rd. Finally, KLR Group upgraded shares of Diamond Offshore Drilling from an “accumulate” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Tuesday, May 31st. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.34.

The company has a 50 day moving average price of $24.84 and a 200 day moving average price of $22.00. The company has a market capitalization of $3.54 billion and a PE ratio of 51.62.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, May 2nd. The offshore drilling services provider reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.37. The company had revenue of $471 million for the quarter, compared to analyst estimates of $411.98 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The business’s quarterly revenue was down 24.0% compared to the same quarter last year. Equities research analysts anticipate that Diamond Offshore Drilling Inc. will post $1.16 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of DO. Herndon Capital Management LLC boosted its stake in Diamond Offshore Drilling by 184.0% in the fourth quarter. Herndon Capital Management LLC now owns 65,861 shares of the offshore drilling services provider’s stock valued at $1,390,000 after buying an additional 42,671 shares during the period. TD Asset Management Inc. boosted its stake in Diamond Offshore Drilling by 24.3% in the fourth quarter. TD Asset Management Inc. now owns 90,436 shares of the offshore drilling services provider’s stock valued at $1,908,000 after buying an additional 17,700 shares during the period. Swiss National Bank boosted its stake in Diamond Offshore Drilling by 1.4% in the fourth quarter. Swiss National Bank now owns 92,553 shares of the offshore drilling services provider’s stock valued at $1,953,000 after buying an additional 1,300 shares during the period. California State Teachers Retirement System boosted its stake in Diamond Offshore Drilling by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 122,777 shares of the offshore drilling services provider’s stock valued at $2,591,000 after buying an additional 1,966 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Diamond Offshore Drilling by 10.0% in the fourth quarter. California Public Employees Retirement System now owns 312,845 shares of the offshore drilling services provider’s stock valued at $6,601,000 after buying an additional 28,500 shares during the period.

Diamond Offshore Drilling, Inc is engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. Its fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water).

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