Zephirin Group upgraded shares of Diamond Offshore Drilling Inc. (NYSE:DO) from a hold rating to a buy rating in a research report released on Monday. They currently have $22.00 price objective on the offshore drilling services provider’s stock.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

Several other equities analysts also recently weighed in on DO. Zacks Investment Research downgraded Diamond Offshore Drilling from a buy rating to a hold rating in a report on Tuesday, July 19th. Credit Suisse Group AG restated a hold rating and set a $18.00 price target on shares of Diamond Offshore Drilling in a report on Wednesday, August 3rd. Jefferies Group restated a hold rating and set a $22.00 price target on shares of Diamond Offshore Drilling in a report on Monday, August 1st. Vetr upgraded Diamond Offshore Drilling from a hold rating to a strong-buy rating and set a $28.62 price target for the company in a report on Thursday, June 9th. Finally, Howard Weil assumed coverage on Diamond Offshore Drilling in a report on Wednesday, September 14th. They set a sector perform rating and a $17.00 price target for the company. Six research 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. The stock has a consensus rating of Hold and a consensus target price of $21.68.

Shares of Diamond Offshore Drilling (NYSE:DO) opened at 15.80 on Monday. The company has a 50-day moving average price of $18.33 and a 200-day moving average price of $22.27. The company’s market capitalization is $2.17 billion. Diamond Offshore Drilling has a 52 week low of $14.18 and a 52 week high of $26.72.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, August 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The business earned $388.75 million during the quarter, compared to the consensus estimate of $374.17 million. Diamond Offshore Drilling had a positive return on equity of 9.12% and a negative net margin of 30.20%. The firm’s quarterly revenue was down 38.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. Analysts predict that Diamond Offshore Drilling will post $1.02 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in DO. Quadrature Capital Ltd bought a new position in shares of Diamond Offshore Drilling during the first quarter worth approximately $1,813,000. Meeder Asset Management Inc. boosted its position in shares of Diamond Offshore Drilling by 110.7% in the first quarter. Meeder Asset Management Inc. now owns 36,481 shares of the offshore drilling services provider’s stock worth $792,000 after buying an additional 19,165 shares during the period. Royce & Associates LP boosted its position in shares of Diamond Offshore Drilling by 5.6% in the first quarter. Royce & Associates LP now owns 644,614 shares of the offshore drilling services provider’s stock worth $14,007,000 after buying an additional 34,000 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Diamond Offshore Drilling by 290.6% in the first quarter. JPMorgan Chase & Co. now owns 182,609 shares of the offshore drilling services provider’s stock worth $3,968,000 after buying an additional 135,861 shares during the period. Finally, Columbia Partners L L C Investment Management bought a new position in shares of Diamond Offshore Drilling during the first quarter worth approximately $791,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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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