Susquehanna Bancshares set a $17.00 target price on Diamond Offshore Drilling (NYSE:DO) in a research note released on Friday. The firm currently has a hold rating on the offshore drilling services provider’s stock.
Other equities research analysts have also issued reports about the company. B. Riley reiterated a neutral rating on shares of Diamond Offshore Drilling in a research note on Wednesday, November 1st. FBR & Co upgraded Diamond Offshore Drilling from a sell rating to a neutral rating and set a $13.00 price objective for the company in a research note on Tuesday, October 10th. Jefferies Group set a $15.00 price objective on Diamond Offshore Drilling and gave the stock a hold rating in a research note on Monday, October 30th. Citigroup lowered Diamond Offshore Drilling from a neutral rating to a sell rating and set a $12.00 price objective for the company. in a research note on Thursday, October 12th. Finally, Piper Jaffray Companies restated an underweight rating on shares of Diamond Offshore Drilling in a report on Thursday, January 11th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $15.01.
Diamond Offshore Drilling (NYSE DO) opened at $20.13 on Friday. Diamond Offshore Drilling has a 52 week low of $10.06 and a 52 week high of $20.41. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $2,760.00, a PE ratio of 16.64 and a beta of 1.28.
In related news, Director Charles Fabrikant sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, December 28th. The stock was 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 in the company, valued at $18,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC acquired a new position in Diamond Offshore Drilling in the fourth quarter valued at approximately $372,000. GSA Capital Partners LLP acquired a new position in Diamond Offshore Drilling in the third quarter valued at approximately $1,209,000. California Public Employees Retirement System lifted its holdings in Diamond Offshore Drilling by 98.0% in the third quarter. California Public Employees Retirement System now owns 825,261 shares of the offshore drilling services provider’s stock valued at $11,966,000 after acquiring an additional 408,516 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings 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 acquiring an additional 566,300 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Diamond Offshore Drilling in the third quarter valued at approximately $262,000.
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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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