Scotiabank reiterated their sector perform rating on shares of Diamond Offshore Drilling Inc. (NYSE:DO) in a research note published on Wednesday.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

A number of other research firms have also recently weighed in on DO. Vetr cut 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. Nomura boosted their target price on shares of Diamond Offshore Drilling from $16.00 to $17.00 and gave the company a reduce rating in a research note on Tuesday, August 16th. Bank of America Corp. began coverage on shares of Diamond Offshore Drilling in a research note on Monday, June 13th. They issued a buy rating and a $34.00 target price on the stock. KLR Group upgraded 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, Howard Weil began coverage on shares of Diamond Offshore Drilling in a research note on Wednesday, September 14th. They issued a sector perform rating and a $17.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $22.36.

Diamond Offshore Drilling (NYSE:DO) opened at 14.94 on Wednesday. The company has a 50-day moving average of $18.64 and a 200-day moving average of $22.38. Diamond Offshore Drilling has a 52 week low of $14.18 and a 52 week high of $26.72. The company’s market capitalization is $2.05 billion.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, August 1st. The offshore drilling services provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.08. Diamond Offshore Drilling had a negative net margin of 30.20% and a positive return on equity of 9.12%. The business had revenue of $388.75 million for the quarter, compared to analysts’ expectations of $374.17 million. During the same period in the previous year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was down 38.7% compared to the same quarter last year. On average, equities research analysts anticipate that Diamond Offshore Drilling will post $1.03 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Balentine LLC boosted its stake in Diamond Offshore Drilling by 5.7% in the second quarter. Balentine LLC now owns 4,186 shares of the offshore drilling services provider’s stock valued at $102,000 after buying an additional 226 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Diamond Offshore Drilling by 24,233.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,840 shares of the offshore drilling services provider’s stock valued at $142,000 after buying an additional 5,816 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Diamond Offshore Drilling during the second quarter valued at approximately $155,000. Mason Street Advisors LLC bought a new stake in Diamond Offshore Drilling during the second quarter valued at approximately $211,000. Finally, Societe Generale bought a new stake in Diamond Offshore Drilling during the second quarter valued at approximately $214,000. 99.36% of the stock is owned by hedge funds and other institutional investors.

About Diamond Offshore Drilling

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).

5 Day Chart for NYSE:DO

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