Diamond Offshore Drilling (NYSE:DO) PT Set at $19.00 by Royal Bank of Canada

Royal Bank of Canada set a $19.00 price objective on Diamond Offshore Drilling (NYSE:DO) in a research report report published on Thursday, December 21st. The brokerage currently has a hold rating on the offshore drilling services provider’s stock.

A number of other equities research analysts have also recently commented on DO. Clarkson Capital upgraded Diamond Offshore Drilling from a neutral rating to a buy rating in a report on Friday, September 1st. Cowen reiterated a hold rating and set a $11.00 target price on shares of Diamond Offshore Drilling in a report on Tuesday, September 5th. Zacks Investment Research upgraded Diamond Offshore Drilling from a hold rating to a buy rating and set a $17.00 price objective on the stock in a report on Monday, October 16th. Bank of America cut Diamond Offshore Drilling from a neutral rating to an underperform rating and raised their price objective for the stock from $13.00 to $14.00 in a report on Monday, October 9th. Finally, UBS Group raised their price objective on Diamond Offshore Drilling from $15.00 to $19.00 and gave the stock a buy rating in a report on Friday, November 3rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Diamond Offshore Drilling has a consensus rating of Hold and a consensus target price of $15.01.

Diamond Offshore Drilling (NYSE:DO) opened at $20.13 on Thursday. The stock has a market capitalization of $2,739.07, a P/E ratio of 16.50 and a beta of 1.29. Diamond Offshore Drilling has a one year low of $10.06 and a one year 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 issued its earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The business had revenue of $366.02 million during the quarter, compared to the consensus estimate of $365.38 million. During the same period in the prior year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. research analysts anticipate that Diamond Offshore Drilling will post 0.89 earnings per share for the current year.

In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of the firm’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $18.55, for a total value of $27,825.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $18,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in DO. Contrarius Investment Management Ltd increased its position in shares of Diamond Offshore Drilling by 99.0% during the second quarter. Contrarius Investment Management Ltd now owns 6,606,440 shares of the offshore drilling services provider’s stock worth $71,548,000 after acquiring an additional 3,286,580 shares during the last quarter. Horseman Capital Management Ltd purchased a new stake in shares of Diamond Offshore Drilling during the third quarter worth about $30,944,000. BlackRock Inc. increased its position in shares of Diamond Offshore Drilling by 22.0% during the second quarter. BlackRock Inc. now owns 9,209,573 shares of the offshore drilling services provider’s stock worth $99,741,000 after acquiring an additional 1,658,687 shares during the last quarter. Majedie Asset Management Ltd increased its position in shares of Diamond Offshore Drilling by 121.9% during the third quarter. Majedie Asset Management Ltd now owns 2,570,583 shares of the offshore drilling services provider’s stock worth $37,273,000 after acquiring an additional 1,412,327 shares during the last quarter. Finally, Balyasny Asset Management LLC increased its position in shares of Diamond Offshore Drilling by 3,073.2% during the second quarter. Balyasny Asset Management LLC now owns 1,136,000 shares of the offshore drilling services provider’s stock worth $12,303,000 after acquiring an additional 1,100,200 shares during the last quarter.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this news story on another site, it was illegally copied and republished in violation of international trademark and copyright laws. The correct version of this news story can be read at https://www.thelincolnianonline.com/2018/01/14/diamond-offshore-drilling-do-given-a-19-00-price-target-at-royal-bank-of-canada-3-updated-updated-updated.html.

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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

Receive News & Ratings for Diamond Offshore Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply