Cowen set a $18.00 price target on Diamond Offshore Drilling (NYSE:DO) in a research report report published on Thursday morning. The firm currently has a hold rating on the offshore drilling services provider’s stock.

Several other analysts have also recently commented on DO. Piper Jaffray Companies restated a hold rating and set a $9.33 price target on shares of Diamond Offshore Drilling in a report on Tuesday, September 19th. UBS Group upgraded shares of Diamond Offshore Drilling from a neutral rating to a buy rating and raised their price target for the stock from $12.00 to $15.00 in a report on Monday, September 25th. Royal Bank of Canada set a $15.00 price target on shares of Diamond Offshore Drilling and gave the stock a hold rating in a report on Saturday, October 7th. Bank of America cut shares of Diamond Offshore Drilling from a neutral rating to an underperform rating and raised their price target for the stock from $13.00 to $14.00 in a report on Monday, October 9th. Finally, Deutsche Bank started coverage on shares of Diamond Offshore Drilling in a research note on Tuesday, October 10th. They issued a hold rating and a $15.00 target price for the company. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $15.01.

Shares of Diamond Offshore Drilling (DO) opened at $20.13 on Thursday. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.52. The company has a market cap of $2,762.40, a P/E ratio of 16.50 and a beta of 1.29. Diamond Offshore Drilling has a fifty-two week low of $10.06 and a fifty-two week high of $20.41.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $366.02 million during the quarter, compared to analysts’ expectations of $365.38 million. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. analysts anticipate that Diamond Offshore Drilling will post 0.88 EPS for the current year.

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

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

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About Diamond Offshore Drilling

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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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