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

Barclays reiterated their buy rating on shares of Diamond Offshore Drilling (NYSE:DO) in a research report report published on Tuesday, AnalystRatings.com reports. The brokerage currently has a $6.00 price objective on the offshore drilling services provider’s stock.

Several other equities research analysts also recently issued reports on the company. Cfra reduced their price objective on Diamond Offshore Drilling from $5.00 to $3.50 and set a sell rating for the company in a research note on Monday, February 10th. HSBC downgraded Diamond Offshore Drilling from a buy rating to a hold rating and set a $5.70 price objective for the company. in a research note on Friday, December 6th. Zacks Investment Research downgraded Diamond Offshore Drilling from a hold rating to a sell rating and set a $7.00 price objective for the company. in a research note on Monday, November 4th. Nordea Equity Research raised Diamond Offshore Drilling from a sell rating to a hold rating in a research note on Thursday, October 24th. Finally, Fearnley Fonds downgraded Diamond Offshore Drilling from a buy rating to a hold rating and set a $6.00 price objective for the company. in a research note on Monday, October 21st. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $6.92.

Shares of NYSE DO opened at $3.75 on Tuesday. Diamond Offshore Drilling has a 12 month low of $3.64 and a 12 month high of $12.64. The company has a quick ratio of 1.84, a current ratio of 1.58 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $5.81 and a 200-day simple moving average of $6.09.

Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Monday, February 10th. The offshore drilling services provider reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.21. Diamond Offshore Drilling had a negative return on equity of 10.86% and a negative net margin of 36.43%. The business had revenue of $276.40 million during the quarter, compared to the consensus estimate of $249.25 million. During the same period in the prior year, the business posted ($0.42) earnings per share. Diamond Offshore Drilling’s revenue was up 18.9% compared to the same quarter last year. Equities research analysts forecast that Diamond Offshore Drilling will post -2.48 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of DO. State Street Corp raised its stake in shares of Diamond Offshore Drilling by 22.1% during the 4th quarter. State Street Corp now owns 3,335,147 shares of the offshore drilling services provider’s stock worth $23,980,000 after purchasing an additional 602,589 shares in the last quarter. Morgan Stanley raised its stake in shares of Diamond Offshore Drilling by 210.3% during the 2nd quarter. Morgan Stanley now owns 489,992 shares of the offshore drilling services provider’s stock worth $4,347,000 after purchasing an additional 332,078 shares in the last quarter. KBC Group NV raised its stake in shares of Diamond Offshore Drilling by 319.8% during the 4th quarter. KBC Group NV now owns 397,951 shares of the offshore drilling services provider’s stock worth $2,861,000 after purchasing an additional 303,158 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Diamond Offshore Drilling by 556.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 340,778 shares of the offshore drilling services provider’s stock worth $2,451,000 after purchasing an additional 288,898 shares in the last quarter. Finally, Great West Life Assurance Co. Can acquired a new position in shares of Diamond Offshore Drilling during the 4th quarter valued at about $1,996,000.

About Diamond Offshore Drilling

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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