The stock of Diamond Offshore Drilling Inc (NYSE:DO) is a huge mover today! About 1.06 million shares traded hands. Diamond Offshore Drilling Inc (NYSE:DO) has declined 26.19% since March 16, 2016 and is downtrending. It has underperformed by 31.73% the S&P500.
The move comes after 8 months positive chart setup for the $2.37B company. It was reported on Oct, 19 by Barchart.com. We have $26.31 PT which if reached, will make NYSE:DO worth $1.14 billion more.
Analysts await Diamond Offshore Drilling Inc (NYSE:DO) to report earnings on November, 7. They expect $0.16 earnings per share, down 84.16% or $0.85 from last year’s $1.01 per share. DO’s profit will be $21.33M for 27.78 P/E if the $0.16 EPS becomes a reality. After $0.16 actual earnings per share reported by Diamond Offshore Drilling Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Diamond Offshore Drilling Inc (NYSE:DO) Ratings Coverage
Out of 24 analysts covering Diamond Offshore Drilling Inc. (NYSE:DO), 6 rate it a “Buy”, 5 “Sell”, while 13 “Hold”. This means 25% are positive. Diamond Offshore Drilling Inc. has been the topic of 44 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating given on Tuesday, September 1 by Wells Fargo. The rating was initiated by Citigroup with “Sell” on Tuesday, October 20. The stock of Diamond Offshore Drilling Inc (NYSE:DO) earned “Buy” rating by Guggenheim on Monday, November 30. As per Monday, September 28, the company rating was upgraded by Deutsche Bank. The firm earned “Neutral” rating on Friday, October 7 by Seaport Global Securities. The firm has “Market Perform” rating given on Wednesday, August 5 by Cowen & Co. KLR Group initiated the stock with “Accumulate” rating in Monday, December 14 report. As per Monday, October 17, the company rating was upgraded by CLSA. The company was maintained on Wednesday, March 16 by Citigroup. The firm has “Neutral” rating given on Friday, March 11 by Goldman Sachs.
According to Zacks Investment Research, “Diamond Offshore Drilling, Inc. engages principally in the contract drilling of offshore oil and gas wells. They are a leading deepwater drilling contractor and owns and operates one of the largest fleets of offshore drilling units in the world. Diamond Offshore operates in the waters of six of the world’s seven continents, supplying comprehensive drilling services to the global energy industry.”
Insitutional Activity: The institutional sentiment decreased to 1.15 in 2016 Q2. Its down 0.08, from 1.23 in 2016Q1. The ratio dived, as 36 funds sold all Diamond Offshore Drilling Inc shares owned while 81 reduced positions. 45 funds bought stakes while 90 increased positions. They now own 140.39 million shares or 2.33% more from 137.20 million shares in 2016Q1.
Victory Cap Mgmt Incorporated holds 823 shares or 0% of its portfolio. The Massachusetts-based Winslow Evans Crocker Inc has invested 0% in Diamond Offshore Drilling Inc (NYSE:DO). Brandywine Investment Management Lc holds 0.05% or 318,879 shares in its portfolio. Meritage Port Management reported 109,170 shares or 0.3% of all its holdings. Credit Agricole S A has invested 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO). The South Africa-based Old Mutual Customised Solutions (Proprietary) Limited has invested 0.03% in Diamond Offshore Drilling Inc (NYSE:DO). Wells Fargo And Mn, a California-based fund reported 208,020 shares. Comml Bank Of America De holds 564,171 shares or 0% of its portfolio. Palo last reported 0.12% of its portfolio in the stock. Mitsubishi Ufj Ltd holds 0.04% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 1,020 shares. Gotham Asset Mngmt Limited Liability Com reported 885,670 shares or 0.26% of all its holdings. Invesco Ltd last reported 0.01% of its portfolio in the stock. Hap Trading holds 0.02% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 15,622 shares. Engineers Gate Manager L P holds 9,774 shares or 0.02% of its portfolio. Quantres Asset Management Limited reported 11,900 shares or 0.18% of all its holdings.
More news for Diamond Offshore Drilling Inc (NYSE:DO) were recently published by: Seekingalpha.com, which released: “Diamond Offshore Drilling: Scrapping Ahead” on September 21, 2016. Zacks.com‘s article titled: “What’s in Store for Diamond Offshore’s Rig Contract with BP?” and published on October 12, 2016 is yet another important article.
DO Company Profile
Diamond Offshore Drilling, Inc., incorporated on April 12, 1989, is engaged in offshore drilling and providing contract drilling services to the energy industry. The Firm has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. The Company’s fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water). The Company’s Jack-up rigs are mobile, self-elevating drilling platforms equipped with legs that are lowered to the ocean floor. The Company’s jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of the Company’s jack-up rigs are equipped with a cantilever system that enables the rig to extend its drilling package over the aft end of the rig.
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