Susquehanna Bancshares Analysts Give Diamond Offshore Drilling (DO) a $17.00 Price Target

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.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The company had revenue of $366.02 million during the quarter, compared to analyst estimates of $365.38 million. During the same period in the previous year, the business earned $0.10 EPS. Diamond Offshore Drilling’s quarterly revenue was up 4.8% on a year-over-year basis. research analysts forecast that Diamond Offshore Drilling will post 0.88 earnings per share for the current year.

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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