Howard Weil started coverage on shares of Diamond Offshore Drilling Inc. (NYSE:DO) in a report issued on Wednesday. The firm issued a sector perform rating and a $17.00 price target on the offshore drilling services provider’s stock.

A number of other research analysts have also recently weighed in on the stock. Citigroup Inc. cut their price objective on shares of Diamond Offshore Drilling from $21.00 to $18.00 and set a neutral rating on the stock in a research report on Friday, September 2nd. Jefferies Group reiterated a hold rating and set a $22.00 price objective on shares of Diamond Offshore Drilling in a research report on Wednesday, August 17th. TheStreet cut shares of Diamond Offshore Drilling from a hold rating to a sell rating in a research report on Monday, August 15th. Nomura boosted their price objective on shares of Diamond Offshore Drilling from $16.00 to $17.00 and gave the company a reduce rating in a research report on Tuesday, August 16th. Finally, RBC Capital Markets reiterated a sector perform rating and set a $23.00 price objective (down previously from $29.00) on shares of Diamond Offshore Drilling in a research report on Saturday, August 13th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $22.36.

Diamond Offshore Drilling (NYSE:DO) opened at 14.94 on Wednesday. The company’s market capitalization is $2.05 billion. The company has a 50 day moving average of $18.64 and a 200 day moving average of $22.38. Diamond Offshore Drilling has a 52 week low of $14.18 and a 52 week high of $26.72.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, August 1st. The offshore drilling services provider reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. Diamond Offshore Drilling had a negative net margin of 30.20% and a positive return on equity of 9.12%. The business had revenue of $388.75 million for the quarter, compared to analysts’ expectations of $374.17 million. During the same quarter in the previous year, the business posted $0.66 earnings per share. The business’s revenue was down 38.7% compared to the same quarter last year. On average, equities analysts forecast that Diamond Offshore Drilling will post $1.03 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Balentine LLC increased its position in Diamond Offshore Drilling by 5.7% in the second quarter. Balentine LLC now owns 4,186 shares of the offshore drilling services provider’s stock valued at $102,000 after buying an additional 226 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Diamond Offshore Drilling by 24,233.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,840 shares of the offshore drilling services provider’s stock valued at $142,000 after buying an additional 5,816 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Diamond Offshore Drilling during the second quarter valued at about $155,000. Mason Street Advisors LLC bought a new position in shares of Diamond Offshore Drilling during the second quarter valued at about $211,000. Finally, Societe Generale bought a new position in shares of Diamond Offshore Drilling during the second quarter valued at about $214,000. 99.36% of the stock is owned by institutional investors.

About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc is engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. Its fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water).

5 Day Chart for NYSE:DO

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