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

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

Other analysts have also recently issued research reports about the stock. Vetr cut shares of Diamond Offshore Drilling from a strong-buy rating to a buy rating and set a $27.54 target price for the company. in a research report on Monday, June 20th. Bank of America Corp. assumed coverage on shares of Diamond Offshore Drilling in a research report on Sunday, June 19th. They issued a buy rating and a $24.32 price objective for the company. KLR Group upgraded shares of Diamond Offshore Drilling from an accumulate rating to a buy rating and set a $33.00 price objective for the company in a research report on Tuesday, May 31st. Zacks Investment Research upgraded shares of Diamond Offshore Drilling from a hold rating to a buy rating and set a $27.00 price objective for the company in a research report on Tuesday, July 12th. Finally, Evercore ISI restated a hold rating on shares of Diamond Offshore Drilling in a research report on Thursday, June 9th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $22.36.

Diamond Offshore Drilling (NYSE:DO) opened at 14.94 on Wednesday. Diamond Offshore Drilling has a 12-month low of $14.18 and a 12-month high of $26.72. The firm’s 50-day moving average price is $18.64 and its 200 day moving average price is $22.38. The company’s market capitalization is $2.05 billion.

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Diamond Offshore Drilling by 31.9% in the second quarter. Vanguard Group Inc. now owns 7,205,279 shares of the offshore drilling services provider’s stock worth $175,305,000 after buying an additional 1,741,584 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Diamond Offshore Drilling by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,117,935 shares of the offshore drilling services provider’s stock worth $124,520,000 after buying an additional 1,440,650 shares during the period. AQR Capital Management LLC boosted its position in shares of Diamond Offshore Drilling by 1,017.0% in the second quarter. AQR Capital Management LLC now owns 1,464,485 shares of the offshore drilling services provider’s stock worth $35,631,000 after buying an additional 1,333,382 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Diamond Offshore Drilling by 54.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,467,909 shares of the offshore drilling services provider’s stock worth $75,358,000 after buying an additional 1,216,069 shares during the period. Finally, LSV Asset Management boosted its position in shares of Diamond Offshore Drilling by 8,864.1% in the second quarter. LSV Asset Management now owns 1,183,267 shares of the offshore drilling services provider’s stock worth $28,788,000 after buying an additional 1,170,067 shares during the period. 99.36% of the stock is currently owned by institutional investors and hedge funds.

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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