How Analysts Feel About Diamond Offshore Drilling Inc After Today’s Bullish Options Activity?

 How Analysts Feel About Diamond Offshore Drilling Inc After Today's Bullish Options Activity?

In today’s session Diamond Offshore Drilling Inc (DO) registered an unusually high (303) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious DO increase. With 303 contracts traded and 37624 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: DO161216C00017500 closed last at: $0.95 or 21.8% up. About 776,408 shares traded hands. Diamond Offshore Drilling Inc (NYSE:DO) has declined 21.41% since April 1, 2016 and is downtrending. It has underperformed by 22.63% the S&P500.

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 $21.66 million for 26.55 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 25 analysts covering Diamond Offshore Drilling Inc. (NYSE:DO), 6 rate it a “Buy”, 5 “Sell”, while 14 “Hold”. This means 24% are positive. $26 is the highest target while $13 is the lowest. The $19.44 average target is 14.42% above today’s ($16.99) stock price. Diamond Offshore Drilling Inc. has been the topic of 46 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Jefferies maintained the shares of DO in a report on Thursday, November 19 with “Hold” rating. The stock of Diamond Offshore Drilling Inc (NYSE:DO) has “Hold” rating given on Wednesday, August 5 by Jefferies. The firm has “Neutral” rating given on Friday, September 2 by Citigroup. Citigroup maintained the shares of DO in a report on Thursday, August 25 with “Neutral” rating. On Tuesday, October 20 the stock rating was initiated by Citigroup with “Sell”. Zephrin Group upgraded the shares of DO in a report on Monday, September 19 to “Buy” rating. The stock of Diamond Offshore Drilling Inc (NYSE:DO) earned “Sector Perform” rating by RBC Capital Markets on Friday, August 12. The company was maintained on Wednesday, March 16 by Citigroup. The firm earned “Hold” rating on Monday, September 28 by Deutsche Bank. The rating was maintained by FBR Capital on Tuesday, November 1 with “Underperform”.

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 Q2 2016. Its down 0.08, from 1.23 in 2016Q1. The ratio fall, 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.
Gateway Advisers accumulated 13,231 shares or 0% of the stock. Fifth Third State Bank has invested 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO). Susquehanna Int Gp Inc Llp last reported 0.01% of its portfolio in the stock. Nomura Asset Management Co Limited accumulated 4,360 shares or 0% of the stock. Conning accumulated 0.03% or 25,891 shares. Livingston Group Inc Asset Management (Operating As Southport Management) holds 0.14% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 10,188 shares. Mraz Amerine Associate Inc last reported 0.33% of its portfolio in the stock. Moreover, Wfg Advsr Limited Partnership has 0% invested in Diamond Offshore Drilling Inc (NYSE:DO) for 101 shares. Voya Invest Mngmt Limited Liability Co last reported 0.01% of its portfolio in the stock. Employees Retirement Sys Of Texas, a Texas-based fund reported 3,000 shares. Public Employees Retirement Association Of Colorado holds 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 15,399 shares. Principal Fin Gru accumulated 0.04% or 1.22 million shares. Aqr Capital Management Ltd Liability Corp has 1.46M shares for 0.06% of their US portfolio. Opportunities Capital Mngmt Ltd Liability Com holds 111,071 shares or 0.81% of its portfolio. The New Jersey-based Systematic Finance Lp has invested 0.02% in Diamond Offshore Drilling Inc (NYSE:DO).

Diamond Offshore Drilling, Inc. is engaged in offshore drilling and providing contract drilling services to the energy industry. The company has a market cap of $2.30 billion. The Firm has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned drillships. It currently has negative earnings. The Company’s fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water).

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.

Another recent and important Diamond Offshore Drilling Inc (NYSE:DO) news was published by Seekingalpha.com which published an article titled: “Bullish On Diamond Offshore” on November 01, 2016.

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