Shares of Diamond Offshore Drilling Inc (NYSE:DO) have received a consensus rating of “Hold” from the twenty analysts that are covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $15.84.

Several equities analysts have weighed in on DO shares. Jefferies Financial Group restated a “sell” rating and set a $16.00 target price on shares of Diamond Offshore Drilling in a report on Monday, July 30th. UBS Group set a $26.00 target price on Diamond Offshore Drilling and gave the company a “buy” rating in a report on Tuesday, July 31st. Credit Suisse Group raised their target price on Diamond Offshore Drilling from $14.00 to $15.00 and gave the company an “underperform” rating in a report on Tuesday, July 31st. B. Riley set a $17.00 target price on Diamond Offshore Drilling and gave the company a “hold” rating in a report on Tuesday, July 31st. Finally, Royal Bank of Canada restated a “hold” rating and set a $23.00 target price on shares of Diamond Offshore Drilling in a report on Tuesday, July 31st.

NYSE DO traded up $0.16 during trading on Wednesday, hitting $16.32. 31,990 shares of the company traded hands, compared to its average volume of 1,406,832. Diamond Offshore Drilling has a 12 month low of $12.35 and a 12 month high of $21.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.23 and a quick ratio of 4.23. The firm has a market cap of $2.22 billion, a P/E ratio of 19.91 and a beta of 1.13.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, July 30th. The offshore drilling services provider reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.06. Diamond Offshore Drilling had a negative return on equity of 1.06% and a negative net margin of 5.57%. The company had revenue of $268.90 million for the quarter, compared to analyst estimates of $279.83 million. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue was down 32.7% compared to the same quarter last year. equities analysts expect that Diamond Offshore Drilling will post -1.15 EPS for the current year.

In other news, SVP David L. Roland sold 1,744 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $19.73, for a total value of $34,409.12. Following the sale, the senior vice president now directly owns 9,194 shares of the company’s stock, valued at $181,397.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in Diamond Offshore Drilling during the second quarter worth about $108,000. ING Groep NV acquired a new stake in Diamond Offshore Drilling during the second quarter valued at approximately $206,000. V Wealth Management LLC acquired a new stake in Diamond Offshore Drilling during the second quarter valued at approximately $238,000. Northwestern Mutual Investment Management Company LLC boosted its holdings in Diamond Offshore Drilling by 56.2% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 13,197 shares of the offshore drilling services provider’s stock valued at $193,000 after purchasing an additional 4,750 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Diamond Offshore Drilling during the second quarter valued at approximately $275,000.

About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.

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Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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