Diamond Offshore Drilling (NYSE:DO) Cut to “Hold” at Pareto Securities

Share on StockTwits

Pareto Securities downgraded shares of Diamond Offshore Drilling (NYSE:DO) from a buy rating to a hold rating in a research note published on Monday, BenzingaRatingsTable reports. They currently have $6.30 price objective on the offshore drilling services provider’s stock, down from their prior price objective of $13.50.

A number of other research analysts have also weighed in on DO. Tudor Pickering upgraded shares of Diamond Offshore Drilling from a hold rating to a buy rating in a research note on Thursday, June 13th. ValuEngine upgraded shares of Diamond Offshore Drilling from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. HSBC set a $11.00 price target on shares of Diamond Offshore Drilling and gave the company a buy rating in a research report on Monday, July 15th. SEB Equities upgraded shares of Diamond Offshore Drilling from a sell rating to a hold rating and reduced their price target for the company from $10.00 to $7.70 in a research report on Tuesday, June 18th. Finally, Piper Jaffray Companies set a $8.00 price target on shares of Diamond Offshore Drilling and gave the company a hold rating in a research report on Thursday, July 11th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $11.38.

Diamond Offshore Drilling stock opened at $7.71 on Monday. Diamond Offshore Drilling has a 1-year low of $5.25 and a 1-year high of $20.85. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -6.59 and a beta of 1.80. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $6.71 and a 200 day simple moving average of $8.86.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, August 5th. The offshore drilling services provider reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Diamond Offshore Drilling had a negative net margin of 32.78% and a negative return on equity of 8.55%. The business had revenue of $216.70 million during the quarter, compared to analysts’ expectations of $228.46 million. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. On average, equities research analysts forecast that Diamond Offshore Drilling will post -2.73 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC lifted its stake in Diamond Offshore Drilling by 5,817.6% in the second quarter. Advisory Services Network LLC now owns 7,752 shares of the offshore drilling services provider’s stock worth $69,000 after purchasing an additional 7,621 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Diamond Offshore Drilling by 25.4% in the second quarter. Riverhead Capital Management LLC now owns 10,359 shares of the offshore drilling services provider’s stock worth $92,000 after purchasing an additional 2,100 shares during the last quarter. Hellman Jordan Management Co. Inc. MA bought a new stake in Diamond Offshore Drilling in the second quarter worth $98,000. CIBC Asset Management Inc bought a new stake in Diamond Offshore Drilling in the first quarter worth $117,000. Finally, Tyers Asset Management LLC lifted its stake in Diamond Offshore Drilling by 24.9% in the second quarter. Tyers Asset Management LLC now owns 14,752 shares of the offshore drilling services provider’s stock worth $131,000 after purchasing an additional 2,944 shares during the last quarter.

About Diamond Offshore Drilling

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.

Recommended Story: Why Invest in Dividend Achievers?

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.



Latest News

Asgard  Reaches Market Capitalization of $2.54 Million
Asgard Reaches Market Capitalization of $2.54 Million
Establishment Labs Holdings Inc  Major Shareholder Jw Asset Management, Llc Acquires 1,000 Shares
Establishment Labs Holdings Inc Major Shareholder Jw Asset Management, Llc Acquires 1,000 Shares
Happycoin  Price Tops $0.0249 on Major Exchanges
Happycoin Price Tops $0.0249 on Major Exchanges
Insider Selling: Docusign Inc  CRO Sells 10,821 Shares of Stock
Insider Selling: Docusign Inc CRO Sells 10,821 Shares of Stock
MustangCoin  Market Capitalization Achieves $18,314.00
MustangCoin Market Capitalization Achieves $18,314.00
Sessia Tops One Day Trading Volume of $21,976.00
Sessia Tops One Day Trading Volume of $21,976.00


 
© 2006-2019 Zolmax.