Diamond Offshore Drilling’s (DO) Underperform Rating Reaffirmed at Raymond James Financial

Diamond Offshore Drilling (NYSE:DO)‘s stock had its “underperform” rating reaffirmed by research analysts at Raymond James Financial in a research report issued on Friday.

A number of other research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Monday, October 16th. UBS Group raised their price objective on shares of Diamond Offshore Drilling from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. ValuEngine upgraded shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. TheStreet upgraded shares of Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Finally, Jefferies Group set a $15.00 target price on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Monday, October 30th. Twelve investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. Diamond Offshore Drilling currently has an average rating of “Hold” and a consensus target price of $14.92.

Shares of Diamond Offshore Drilling (NYSE:DO) opened at $14.92 on Friday. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $20.41. The company has a market cap of $2,136.64, a P/E ratio of 12.23 and a beta of 1.13. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52.

In related news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction 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 owns 1,000 shares in the company, valued at approximately $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.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in Diamond Offshore Drilling by 8.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 156,194 shares of the offshore drilling services provider’s stock worth $2,904,000 after purchasing an additional 11,843 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Diamond Offshore Drilling by 16.8% during the 4th quarter. Wells Fargo & Company MN now owns 645,873 shares of the offshore drilling services provider’s stock valued at $12,007,000 after acquiring an additional 93,080 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Diamond Offshore Drilling during the 4th quarter valued at about $2,928,000. New Mexico Educational Retirement Board acquired a new stake in shares of Diamond Offshore Drilling during the 4th quarter valued at about $297,000. Finally, Swiss National Bank boosted its position in shares of Diamond Offshore Drilling by 7.2% during the 4th quarter. Swiss National Bank now owns 120,953 shares of the offshore drilling services provider’s stock valued at $2,249,000 after acquiring an additional 8,100 shares in the last quarter.

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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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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