Investment Analysts’ Recent Ratings Changes for Diamond Offshore Drilling (DO)

Several analysts have recently updated their ratings and price targets for Diamond Offshore Drilling (NYSE: DO):

  • 6/18/2019 – Diamond Offshore Drilling was upgraded by analysts at SEB Equities from a “sell” rating to a “hold” rating. They now have a $7.70 price target on the stock, down previously from $10.00.
  • 6/14/2019 – Diamond Offshore Drilling was given a new $5.00 price target on by analysts at Citigroup Inc. They now have a “sell” rating on the stock.
  • 6/13/2019 – Diamond Offshore Drilling was upgraded by analysts at Tudor Pickering from a “hold” rating to a “buy” rating.
  • 6/10/2019 – Diamond Offshore Drilling is now covered by analysts at Bank of America Corp. They set an “underperform” rating and a $5.00 price target on the stock.
  • 5/22/2019 – Diamond Offshore Drilling was upgraded by analysts at Piper Jaffray Companies from an “underweight” rating to a “neutral” rating. They now have a $8.75 price target on the stock, down previously from $9.40.
  • 5/17/2019 – Diamond Offshore Drilling was given a new $8.00 price target on by analysts at Citigroup Inc. They now have a “sell” rating on the stock.

Shares of NYSE DO opened at $8.29 on Wednesday. The firm has a market capitalization of $1.17 billion, a PE ratio of -7.09 and a beta of 1.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.68 and a current ratio of 2.68. Diamond Offshore Drilling Inc has a 12-month low of $7.12 and a 12-month high of $21.92. The company has a fifty day moving average of $8.53.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.53) earnings per share (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 return on equity of 5.84% and a negative net margin of 26.72%. The company’s revenue for the quarter was down 24.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) earnings per share. As a group, sell-side analysts expect that Diamond Offshore Drilling Inc will post -2.42 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund raised its holdings in Diamond Offshore Drilling by 844.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 238,294 shares of the offshore drilling services provider’s stock valued at $25,000 after acquiring an additional 213,051 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Diamond Offshore Drilling by 108.3% during the 4th quarter. Advisor Group Inc. now owns 3,577 shares of the offshore drilling services provider’s stock valued at $35,000 after purchasing an additional 1,860 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Diamond Offshore Drilling by 111.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,681 shares of the offshore drilling services provider’s stock valued at $44,000 after purchasing an additional 2,468 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Diamond Offshore Drilling during the 4th quarter valued at $61,000. Finally, Bessemer Group Inc. bought a new position in shares of Diamond Offshore Drilling during the 4th quarter valued at $64,000.

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.

Read More: What is a portfolio manager?

Receive News & Ratings for Diamond Offshore Drilling Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling Inc and related companies with MarketBeat.com's FREE daily email newsletter.