Diamond Offshore Drilling Inc. (NYSE:DO) shot up 7.7% during mid-day trading on Tuesday . The company traded as high as $26.35 and last traded at $26.28, with a volume of 1,138,786 shares trading hands. The stock had previously closed at $24.41.

Several equities research analysts have recently weighed in on the stock. Evercore ISI reissued a “hold” rating on shares of Diamond Offshore Drilling in a research note on Thursday, June 9th. Vetr downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating and set a $25.46 target price on the stock. in a research note on Tuesday, June 7th. KLR Group raised shares of Diamond Offshore Drilling from an “accumulate” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, May 31st. Finally, Bank of America Corp. assumed coverage on shares of Diamond Offshore Drilling in a research note on Sunday, June 19th. They issued a “buy” rating and a $24.32 target price on the stock. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $22.34.

The stock has a market capitalization of $3.43 billion and a PE ratio of 50.08. The firm’s 50-day moving average is $24.83 and its 200-day moving average is $21.97.

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. On average, equities research analysts anticipate that Diamond Offshore Drilling Inc. will post $1.16 earnings per share for the current year.

Other institutional investors have made changes to their positions in the company. Herndon Capital Management LLC increased its position in shares of 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 worth $1,390,000 after buying an additional 42,671 shares during the period. TD Asset Management Inc. increased 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 last quarter. Swiss National Bank increased 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 last quarter. California State Teachers Retirement System increased 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 last quarter. Finally, California Public Employees Retirement System increased 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 last quarter.

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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