Shares of Diamond Offshore Drilling, Inc. (NYSE:DO) rose 9.1% during trading on Monday . The company traded as high as $14.77 and last traded at $14.48. Approximately 4,607,486 shares traded hands during mid-day trading, an increase of 53% from the average daily volume of 3,017,240 shares. The stock had previously closed at $13.27.

DO has been the subject of a number of research analyst reports. UBS AG upgraded shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $15.00 in a research note on Monday. Jefferies Group LLC set a $14.00 price target on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Saturday, July 1st. Clarkson Capital upgraded shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research note on Friday, September 1st. Seaport Global Securities reiterated a “sell” rating on shares of Diamond Offshore Drilling in a research note on Monday, July 31st. Finally, Cowen and Company reiterated a “hold” rating and issued a $11.00 price target on shares of Diamond Offshore Drilling in a research note on Tuesday, September 5th. Nine investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.80.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.21. The business had revenue of $399.30 million for the quarter, compared to analysts’ expectations of $381.50 million. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.16 EPS.

A number of institutional investors have recently added to or reduced their stakes in DO. Louisiana State Employees Retirement System grew its stake in Diamond Offshore Drilling by 2.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 16,300 shares of the offshore drilling services provider’s stock valued at $272,000 after acquiring an additional 400 shares during the period. Nationwide Fund Advisors grew its stake in Diamond Offshore Drilling by 0.7% in the 1st quarter. Nationwide Fund Advisors now owns 118,201 shares of the offshore drilling services provider’s stock valued at $1,975,000 after acquiring an additional 860 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Diamond Offshore Drilling by 1.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 22,573 shares of the offshore drilling services provider’s stock valued at $377,000 after acquiring an additional 300 shares during the period. Wells Fargo & Company MN grew its stake in Diamond Offshore Drilling by 109.3% in the 1st quarter. Wells Fargo & Company MN now owns 542,934 shares of the offshore drilling services provider’s stock valued at $9,073,000 after acquiring an additional 283,500 shares during the period. Finally, State Treasurer State of Michigan grew its stake in Diamond Offshore Drilling by 0.8% in the 1st quarter. State Treasurer State of Michigan now owns 26,200 shares of the offshore drilling services provider’s stock valued at $438,000 after acquiring an additional 200 shares during the period.

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Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig. Its fleet enables it to offer a range of services, primarily in the floater market, including ultra-deepwater, deepwater and mid-water.

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