Diamond Offshore Drilling (NYSE:DO) had its price target decreased by Wells Fargo & Co from $22.00 to $17.00 in a report released on Tuesday. Wells Fargo & Co currently has a market perform rating on the offshore drilling services provider’s stock.

Several other research analysts have also commented on DO. Susquehanna Bancshares set a $16.00 price target on shares of Diamond Offshore Drilling and gave the company a hold rating in a report on Tuesday. Piper Jaffray Companies set a $10.00 price target on shares of Diamond Offshore Drilling and gave the company a sell rating in a report on Tuesday. ValuEngine lowered shares of Diamond Offshore Drilling from a strong-buy rating to a buy rating in a report on Saturday, October 27th. UBS Group raised shares of Diamond Offshore Drilling from a reduce rating to an accumulate rating in a report on Thursday, October 18th. Finally, Johnson Rice lowered shares of Diamond Offshore Drilling from a hold rating to a sell rating and set a $15.00 price target for the company. in a report on Wednesday, October 17th. Eleven analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $16.66.

DO stock traded up $0.37 during mid-day trading on Tuesday, hitting $14.68. 3,027,873 shares of the company were exchanged, compared to its average volume of 2,087,675. The firm has a market cap of $2.01 billion, a P/E ratio of 17.90 and a beta of 1.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.91 and a quick ratio of 4.23. Diamond Offshore Drilling has a twelve month low of $13.56 and a twelve month high of $21.92.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, November 5th. The offshore drilling services provider reported ($0.26) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.10. The company had revenue of $286.30 million during the quarter, compared to analyst estimates of $281.74 million. Diamond Offshore Drilling had a negative net margin of 11.11% and a negative return on equity of 2.92%. The firm’s revenue for the quarter was down 21.8% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. On average, sell-side analysts expect that Diamond Offshore Drilling will post -1.14 EPS for the current year.

A number of institutional investors have recently bought and sold shares of DO. FMR LLC boosted its stake in Diamond Offshore Drilling by 61.9% during the 2nd quarter. FMR LLC now owns 5,461,129 shares of the offshore drilling services provider’s stock valued at $113,919,000 after purchasing an additional 2,088,000 shares during the period. Wells Fargo & Company MN boosted its stake in Diamond Offshore Drilling by 153.3% during the 2nd quarter. Wells Fargo & Company MN now owns 1,676,934 shares of the offshore drilling services provider’s stock valued at $34,980,000 after purchasing an additional 1,014,887 shares during the period. Fisher Asset Management LLC acquired a new position in Diamond Offshore Drilling during the 3rd quarter valued at about $17,593,000. Robeco Institutional Asset Management B.V. boosted its stake in Diamond Offshore Drilling by 98.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,681,377 shares of the offshore drilling services provider’s stock valued at $34,355,000 after purchasing an additional 834,803 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Diamond Offshore Drilling by 150.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,293,254 shares of the offshore drilling services provider’s stock valued at $26,978,000 after purchasing an additional 775,908 shares during the period.

Diamond Offshore Drilling Company Profile

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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