Susquehanna Bancshares set a $9.00 price objective on Diamond Offshore Drilling (NYSE:DO) in a research note published on Friday, TipRanks reports. The brokerage currently has a hold rating on the offshore drilling services provider’s stock.
Several other research firms have also recently commented on DO. UBS Group set a $13.00 price objective on shares of Freeport-McMoRan and gave the company a hold rating in a research report on Wednesday, June 26th. SEB Equities raised shares of Diamond Offshore Drilling from a sell rating to a hold rating and cut their price target for the stock from $10.00 to $7.70 in a research report on Tuesday, June 18th. Citigroup cut their price target on shares of Broadcom from $320.00 to $300.00 and set a buy rating on the stock in a research report on Friday, June 14th. Piper Jaffray Companies set a $8.00 price target on shares of Diamond Offshore Drilling and gave the stock a hold rating in a research report on Thursday, July 11th. Finally, Bank of America set a $77.00 price target on shares of Citigroup and gave the stock a buy rating in a research report on Monday, June 10th. Eight investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Diamond Offshore Drilling presently has an average rating of Hold and an average price target of $12.74.
DO traded up $0.27 during trading on Friday, hitting $8.34. The company had a trading volume of 1,635,961 shares, compared to its average volume of 2,783,183. The stock has a market capitalization of $1.12 billion, a P/E ratio of -7.13 and a beta of 1.69. Diamond Offshore Drilling has a one year low of $7.12 and a one year high of $20.85. The stock has a 50-day moving average of $8.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.68 and a quick ratio of 2.68.
Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.06. The business had revenue of $223.50 million for the quarter, compared to analysts’ expectations of $231.90 million. Diamond Offshore Drilling had a negative net margin of 26.72% and a negative return on equity of 5.84%. The firm’s revenue was down 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) EPS. Equities research analysts predict that Diamond Offshore Drilling will post -2.44 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Diamond Offshore Drilling by 2.9% during the 4th quarter. BlackRock Inc. now owns 8,630,005 shares of the offshore drilling services provider’s stock worth $81,467,000 after purchasing an additional 241,620 shares during the last quarter. CIBC World Markets Inc. increased its stake in shares of Diamond Offshore Drilling by 10.0% during the 1st quarter. CIBC World Markets Inc. now owns 26,560 shares of the offshore drilling services provider’s stock worth $279,000 after purchasing an additional 2,404 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Diamond Offshore Drilling during the 4th quarter worth about $143,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Diamond Offshore Drilling by 83.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 39,457 shares of the offshore drilling services provider’s stock worth $372,000 after purchasing an additional 17,921 shares during the last quarter. Finally, Majedie Asset Management Ltd increased its stake in shares of Diamond Offshore Drilling by 39.3% during the 1st quarter. Majedie Asset Management Ltd now owns 3,121,384 shares of the offshore drilling services provider’s stock worth $32,770,000 after purchasing an additional 880,081 shares during the last quarter.
Diamond Offshore Drilling Company Profile
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.
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