Shares of Diamond Offshore Drilling Inc. (NYSE:DO) saw unusually-strong trading volume on Thursday . Approximately 2,021,369 shares traded hands during 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.

Several equities analysts have recently weighed in on DO shares. Barclays PLC reduced their price target on Diamond Offshore Drilling from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Monday, March 28th. Vetr downgraded Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating and set a $20.65 target price on the stock. in a research note on Monday, March 21st. Clarkson Capital reissued a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Monday, April 11th. Bank of America Corp. initiated coverage on Diamond Offshore Drilling in a research note on Sunday, June 19th. They set a “buy” rating and a $24.32 target price on the stock. Finally, Zacks Investment Research downgraded Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Friday, April 22nd. 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 company currently has an average rating of “Hold” and a consensus price target of $22.34.

The company has a 50-day moving average of $24.86 and a 200-day moving average of $22.03. The company has a market capitalization of $3.54 billion and a PE ratio of 51.68.

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

Other large investors have bought and sold shares of the company. 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. 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. First Trust Advisors LP boosted its stake in Diamond Offshore Drilling by 60.4% in the fourth quarter. First Trust Advisors LP now owns 905,160 shares of the offshore drilling services provider’s stock valued at $19,099,000 after buying an additional 340,778 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. 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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