Diamond Offshore Drilling Inc (NYSE:DO) has been assigned a consensus rating of “Hold” from the twenty-seven research firms that are covering the firm, Marketbeat reports. Twelve research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $14.39.

Several research firms have weighed in on DO. Cowen set a $18.00 price target on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $17.00 target price on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Friday, January 12th. Barclays cut shares of Diamond Offshore Drilling from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $19.92 to $13.00 in a report on Tuesday, January 23rd. Jefferies Group cut shares of Diamond Offshore Drilling from a “hold” rating to an “underperform” rating and set a $15.00 target price on the stock. in a report on Thursday, January 4th. Finally, TheStreet raised shares of Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a report on Monday, January 22nd.

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In related news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $18.55, for a total value of $27,825.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $18,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.03% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Contrarius Investment Management Ltd increased its stake in Diamond Offshore Drilling by 13.7% in the third quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock valued at $108,925,000 after acquiring an additional 905,595 shares during the last quarter. Commonwealth Bank of Australia boosted its position in Diamond Offshore Drilling by 6.0% in the third quarter. Commonwealth Bank of Australia now owns 185,541 shares of the offshore drilling services provider’s stock valued at $2,687,000 after buying an additional 10,500 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Diamond Offshore Drilling by 959.8% in the third quarter. Point72 Asset Management L.P. now owns 625,300 shares of the offshore drilling services provider’s stock valued at $9,067,000 after buying an additional 566,300 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Diamond Offshore Drilling in the third quarter valued at approximately $2,745,000. Finally, American Century Companies Inc. boosted its position in Diamond Offshore Drilling by 104.8% in the fourth quarter. American Century Companies Inc. now owns 623,703 shares of the offshore drilling services provider’s stock valued at $11,595,000 after buying an additional 319,119 shares in the last quarter.

Diamond Offshore Drilling (NYSE:DO) opened at $14.98 on Wednesday. The firm has a market cap of $2,089.98, a PE ratio of 107.01 and a beta of 1.25. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling has a fifty-two week low of $10.06 and a fifty-two week high of $20.41.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $346.20 million for the quarter, compared to analysts’ expectations of $331.98 million. Diamond Offshore Drilling had a net margin of 1.23% and a return on equity of 2.96%. The business’s revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. equities research analysts anticipate that Diamond Offshore Drilling will post -0.3 earnings per share for the current year.

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About Diamond Offshore Drilling

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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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