Diamond Offshore Drilling Inc. (NYSE:DO)’s share price fell 3.3% during trading on Tuesday . The company traded as low as $21.29 and last traded at $21.34, with a volume of 1,088,694 shares traded. The stock had previously closed at $22.06.

A number of brokerages recently commented on DO. Barclays PLC lifted their target price on shares of Diamond Offshore Drilling from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Monday. Credit Suisse Group AG restated a “hold” rating and issued a $18.00 price objective on shares of Diamond Offshore Drilling in a research report on Wednesday, August 3rd. FBR & Co restated a “sell” rating on shares of Diamond Offshore Drilling in a research report on Tuesday, August 2nd. Jefferies Group restated a “hold” rating and issued a $22.00 price objective on shares of Diamond Offshore Drilling in a research report on Monday, August 1st. Finally, Zacks Investment Research cut shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.44.

The firm’s 50-day moving average price is $23.57 and its 200 day moving average price is $22.51. The company’s market cap is $2.84 billion.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, August 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. During the same period last year, the business posted $0.66 EPS. The business had revenue of $388.75 million for the quarter, compared to analysts’ expectations of $374.17 million. The company’s revenue for the quarter was down 38.7% on a year-over-year basis. Analysts expect that Diamond Offshore Drilling Inc. will post $1.18 EPS for the current year.

Several hedge funds and institutional investors have recently modified their holdings of DO. Airain ltd increased its position in shares of Diamond Offshore Drilling by 35.9% in the fourth quarter. Airain ltd now owns 205,484 shares of the offshore drilling services provider’s stock worth $4,336,000 after buying an additional 54,238 shares during the last quarter. California Public Employees Retirement System increased its position in shares of 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 worth $6,601,000 after buying an additional 28,500 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of 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 worth $1,953,000 after buying an additional 1,300 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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