Diamond Offshore Drilling’s (DO) Buy Rating Reaffirmed at Barclays

Barclays reaffirmed their buy rating on shares of Diamond Offshore Drilling (NYSE:DO) in a research note issued to investors on Tuesday, AnalystRatings.com reports. Barclays currently has a $6.00 price objective on the offshore drilling services provider’s stock.

Several other equities analysts also recently commented on DO. HSBC downgraded Diamond Offshore Drilling from a buy rating to a hold rating and set a $5.70 target price for the company. in a research report on Friday, December 6th. Fearnley Fonds downgraded Diamond Offshore Drilling from a buy rating to a hold rating and set a $6.00 target price for the company. in a research report on Monday, October 21st. Nordea Equity Research upgraded Diamond Offshore Drilling from a sell rating to a hold rating in a research report on Thursday, October 24th. Zacks Investment Research downgraded Diamond Offshore Drilling from a hold rating to a sell rating and set a $7.00 target price for the company. in a research report on Monday, November 4th. Finally, ValuEngine downgraded Diamond Offshore Drilling from a strong-buy rating to a buy rating in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Diamond Offshore Drilling has an average rating of Hold and a consensus target price of $6.92.

Diamond Offshore Drilling stock opened at $3.75 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.84 and a current ratio of 1.58. Diamond Offshore Drilling has a one year low of $3.64 and a one year high of $12.64. The business has a 50 day simple moving average of $5.81 and a 200 day simple moving average of $6.09.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, February 10th. The offshore drilling services provider reported ($0.45) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.66) by $0.21. The business had revenue of $276.40 million during the quarter, compared to the consensus estimate of $249.25 million. Diamond Offshore Drilling had a negative return on equity of 10.86% and a negative net margin of 36.43%. Diamond Offshore Drilling’s revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.42) EPS. As a group, sell-side analysts anticipate that Diamond Offshore Drilling will post -2.48 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new position in Diamond Offshore Drilling in the 4th quarter valued at $37,000. Nisa Investment Advisors LLC acquired a new stake in shares of Diamond Offshore Drilling in the 4th quarter valued at $43,000. Huntington National Bank increased its stake in shares of Diamond Offshore Drilling by 1,858.2% in the 4th quarter. Huntington National Bank now owns 10,770 shares of the offshore drilling services provider’s stock valued at $77,000 after buying an additional 10,220 shares during the period. ProShare Advisors LLC acquired a new stake in shares of Diamond Offshore Drilling in the 4th quarter valued at $77,000. Finally, Point72 Hong Kong Ltd increased its stake in shares of Diamond Offshore Drilling by 347.4% in the 4th quarter. Point72 Hong Kong Ltd now owns 10,643 shares of the offshore drilling services provider’s stock valued at $77,000 after buying an additional 8,264 shares during the period.

Diamond Offshore Drilling Company Profile

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.

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Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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