Diamond Offshore Drilling (NYSE:DO) Rating Lowered to Neutral at Clarkson Capital

Clarkson Capital downgraded shares of Diamond Offshore Drilling (NYSE:DO) from a buy rating to a neutral rating in a report released on Thursday, January 18th.

Several other research analysts have also recently commented on DO. UBS Group raised Diamond Offshore Drilling from a neutral rating to a buy rating and boosted their target price for the stock from $12.00 to $15.00 in a research note on Monday, September 25th. Royal Bank of Canada set a $15.00 price target on Diamond Offshore Drilling and gave the stock a hold rating in a report on Saturday, October 7th. Bank of America downgraded Diamond Offshore Drilling from a neutral rating to an underperform rating and lifted their price target for the stock from $13.00 to $14.00 in a report on Monday, October 9th. Deutsche Bank assumed coverage on Diamond Offshore Drilling in a report on Tuesday, October 10th. They issued a hold rating and a $15.00 target price for the company. Finally, FBR & Co raised Diamond Offshore Drilling from a sell rating to a neutral rating and set a $13.00 target price for the company in a report on Tuesday, October 10th. Twelve analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $14.92.

Diamond Offshore Drilling (DO) traded down $0.03 on Thursday, reaching $14.89. The company had a trading volume of 3,720,000 shares, compared to its average volume of 1,580,000. Diamond Offshore Drilling has a 1 year low of $10.06 and a 1 year high of $20.41. The firm has a market cap of $2,040.00, a PE ratio of 12.31 and a beta of 1.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.58 and a quick ratio of 3.58.

In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $18.55, for a total transaction of $27,825.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the business. Comerica Bank lifted its stake in shares of Diamond Offshore Drilling by 0.8% during the 2nd 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 period. Legal & General Group Plc lifted its stake in shares of Diamond Offshore Drilling by 0.3% during the 2nd 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 period. Energy Opportunities Capital Management LLC lifted its stake in shares of Diamond Offshore Drilling by 2.2% during the 2nd 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 period. Rhumbline Advisers lifted its stake in shares of Diamond Offshore Drilling by 2.3% during the 3rd 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 period. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Diamond Offshore Drilling by 7.2% during the 3rd 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 period.

WARNING: This piece was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://ledgergazette.com/2018/02/11/diamond-offshore-drilling-do-lowered-to-neutral-at-clarkson-capital.html.

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)

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