Diamond Offshore Drilling Inc. (NYSE:DO) shares fell 8.9% on Thursday . The company traded as low as $16.74 and last traded at $16.82, with a volume of 3,442,110 shares trading hands. The stock had previously closed at $18.47.

A number of research firms have weighed in on DO. Vetr lowered shares of Diamond Offshore Drilling from a “strong-buy” rating to a “buy” rating and set a $28.66 target price on the stock. in a research note on Monday, July 18th. Barclays PLC raised 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 note on Monday, August 8th. RBC Capital Markets reissued a “sector perform” rating and issued a $23.00 target price (down from $29.00) on shares of Diamond Offshore Drilling in a research note on Saturday, August 13th. FBR & Co reissued a “sell” rating on shares of Diamond Offshore Drilling in a research note on Tuesday, August 2nd. Finally, Zacks Investment Research downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $22.51.

The stock’s market cap is $2.23 billion. The stock has a 50-day moving average price of $20.96 and a 200 day moving average price of $22.62.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, August 1st. The offshore drilling services provider reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. During the same quarter in the prior year, the business earned $0.66 earnings per share. The firm earned $388.75 million during the quarter, compared to the consensus estimate of $374.17 million. The company’s revenue for the quarter was down 38.7% compared to the same quarter last year. Equities research analysts predict that Diamond Offshore Drilling Inc. will post $1.18 EPS for the current year.

An institutional investor recently raised its position in Diamond Offshore Drilling stock. AJO LP boosted its stake in shares of Diamond Offshore Drilling Inc. (NYSE:DO) by 305.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,176 shares of the offshore drilling services provider’s stock after buying an additional 92,766 shares during the period. AJO LP owned 0.09% of Diamond Offshore Drilling worth $2,599,000 at the end of the most recent 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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