Diamond Offshore Drilling (NYSE:DO) Shares Gap Down to $3.46

Diamond Offshore Drilling (NYSE:DO) Shares Gap Down to $3.46

Diamond Offshore Drilling Inc (NYSE:DO) gapped down prior to trading on Monday . The stock had previously closed at $3.69, but opened at $3.46. Diamond Offshore Drilling shares last traded at $3.18, with a volume of 3,883,397 shares trading hands.

DO has been the topic of a number of analyst reports. Cfra decreased their price objective on Diamond Offshore Drilling from $5.00 to $3.50 and set a “sell” rating on the stock in a research note on Monday, February 10th. 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 note on Monday, November 4th. Barclays restated a “buy” rating and issued a $6.00 target price on shares of Diamond Offshore Drilling in a research note on Tuesday, February 11th. HSBC lowered Diamond Offshore Drilling from a “buy” rating to a “hold” rating and set a $5.70 target price for the company. in a report on Friday, December 6th. Finally, ValuEngine cut Diamond Offshore Drilling from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Diamond Offshore Drilling has an average rating of “Hold” and an average target price of $6.92.

The company has a market cap of $476.44 million, a P/E ratio of -1.23 and a beta of 1.92. The company has a 50 day moving average of $5.09 and a 200-day moving average of $5.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.58.

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. 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 analysts’ expectations of $249.25 million. During the same period in the previous year, the business earned ($0.42) earnings per share. The firm’s revenue was up 18.9% on a year-over-year basis. Research analysts anticipate that Diamond Offshore Drilling Inc will post -2.56 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new position in Diamond Offshore Drilling in the fourth quarter valued at $37,000. Nisa Investment Advisors LLC bought a new stake in Diamond Offshore Drilling during the fourth quarter worth about $43,000. Point72 Hong Kong Ltd lifted its stake in Diamond Offshore Drilling by 347.4% during the fourth quarter. Point72 Hong Kong Ltd now owns 10,643 shares of the offshore drilling services provider’s stock worth $77,000 after purchasing an additional 8,264 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of Diamond Offshore Drilling in the 4th quarter worth about $77,000. Finally, Huntington National Bank boosted its holdings 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 worth $77,000 after purchasing an additional 10,220 shares in the last quarter.

About Diamond Offshore Drilling (NYSE:DO)

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.

Share:
error: Content is protected !!