Diamond Offshore Drilling Inc. (NYSE:DO) traded up 3.5% on Wednesday . The stock traded as high as $15.92 and last traded at $15.80, with a volume of 2,960,908 shares. The stock had previously closed at $15.26.

Several research analysts have commented on the company. Vetr downgraded Diamond Offshore Drilling from a “strong-buy” rating to a “buy” rating and set a $28.66 target price for the company. in a research note on Monday, July 18th. Evercore ISI reissued a “hold” rating on shares of Diamond Offshore Drilling in a research note on Thursday, June 9th. Zacks Investment Research downgraded Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. KLR Group raised Diamond Offshore Drilling from an “accumulate” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, May 31st. Finally, Bank of America Corp. assumed coverage on Diamond Offshore Drilling in a research note on Sunday, June 19th. They set a “buy” rating and a $24.32 target price for the company. Six analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have assigned a buy rating to the company. Diamond Offshore Drilling presently has an average rating of “Hold” and a consensus target price of $21.68.

The company’s 50 day moving average price is $18.33 and its 200-day moving average price is $22.27. The company’s market capitalization is $2.17 billion.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, August 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. Diamond Offshore Drilling had a positive return on equity of 9.12% and a negative net margin of 30.20%. The firm 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 firm earned $0.66 earnings per share. The business’s revenue was down 38.7% compared to the same quarter last year. On average, equities research analysts anticipate that Diamond Offshore Drilling Inc. will post $1.02 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Utah Retirement Systems boosted its position in Diamond Offshore Drilling by 0.9% in the second quarter. Utah Retirement Systems now owns 11,590 shares of the offshore drilling services provider’s stock valued at $282,000 after buying an additional 100 shares during the period. Public Employees Retirement System of Ohio boosted its position in Diamond Offshore Drilling by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 24,828 shares of the offshore drilling services provider’s stock valued at $604,000 after buying an additional 155 shares during the period. Conning Inc. boosted its position in Diamond Offshore Drilling by 0.8% in the second quarter. Conning Inc. now owns 25,891 shares of the offshore drilling services provider’s stock valued at $630,000 after buying an additional 200 shares during the period. Balentine LLC boosted its position 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 during the period. Finally, Wellington Shields Capital Management LLC boosted its position in Diamond Offshore Drilling by 2.6% in the second quarter. Wellington Shields Capital Management LLC now owns 11,880 shares of the offshore drilling services provider’s stock valued at $289,000 after buying an additional 300 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Diamond Offshore Drilling Company Profile

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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