Clarkson Capital downgraded shares of Diamond Offshore Drilling (NYSE:DO) from a buy rating to a neutral rating in a research report report published on Thursday, The Fly reports.

Several other equities research analysts have also recently weighed in on DO. B. Riley restated a neutral rating on shares of Diamond Offshore Drilling in a research note on Wednesday, November 1st. Cowen set a $18.00 target price on Diamond Offshore Drilling and gave the stock a hold rating in a research note on Thursday, January 11th. Piper Jaffray Companies restated an underweight rating on shares of Diamond Offshore Drilling in a research note on Thursday, January 11th. Susquehanna Bancshares set a $17.00 target price on Diamond Offshore Drilling and gave the stock a hold rating in a research note on Friday, January 12th. Finally, Jefferies Group cut Diamond Offshore Drilling from a hold rating to an underperform rating and set a $15.00 target price for the company. in a research note on Thursday, January 4th. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Diamond Offshore Drilling presently has a consensus rating of Hold and an average target price of $15.01.

Diamond Offshore Drilling (DO) traded up $0.36 during mid-day trading on Thursday, reaching $19.63. The company had a trading volume of 1,386,333 shares, compared to its average volume of 1,422,531. The stock has a market capitalization of $2,690.00, a PE ratio of 16.22 and a beta of 1.28. Diamond Offshore Drilling has a 12-month low of $10.06 and a 12-month high of $20.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.58.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $366.02 million during the quarter, compared to analysts’ expectations of $365.38 million. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. research analysts predict that Diamond Offshore Drilling will post 0.87 EPS for the current fiscal year.

In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $18.55, for a total value of $27,825.00. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at $18,550. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.03% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Comerica Bank raised its stake in shares of Diamond Offshore Drilling by 0.8% during the second quarter. Comerica Bank now owns 55,321 shares of the offshore drilling services provider’s stock worth $647,000 after purchasing an additional 437 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Diamond Offshore Drilling by 0.3% during the second quarter. Legal & General Group Plc now owns 200,738 shares of the offshore drilling services provider’s stock worth $2,175,000 after purchasing an additional 671 shares during the last quarter. Energy Opportunities Capital Management LLC raised its stake in shares of Diamond Offshore Drilling by 2.2% during the second quarter. Energy Opportunities Capital Management LLC now owns 137,465 shares of the offshore drilling services provider’s stock worth $1,489,000 after purchasing an additional 2,950 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Diamond Offshore Drilling by 2.3% during the third quarter. Rhumbline Advisers now owns 137,428 shares of the offshore drilling services provider’s stock worth $1,993,000 after purchasing an additional 3,069 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in shares of Diamond Offshore Drilling by 7.2% during the third quarter. Mutual of America Capital Management LLC now owns 50,486 shares of the offshore drilling services provider’s stock worth $732,000 after purchasing an additional 3,389 shares during the last quarter.

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Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig. Its fleet enables it to offer a range of services, primarily in the floater market, including ultra-deepwater, deepwater and mid-water.

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Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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