Notable Runner: Is Diamond Offshore Drilling Inc a Sell? The Stock Declines Again

Notable Runner: Is Diamond Offshore Drilling Inc a Sell? The Stock Declines Again

The stock of Diamond Offshore Drilling Inc (NYSE:DO) is a huge mover today! The stock decreased 6.26% or $1.05 during the last trading session, hitting $15.72. About 3.20M shares traded hands. Diamond Offshore Drilling Inc (NYSE:DO) has declined 20.10% since April 4, 2016 and is downtrending. It has underperformed by 21.20% the S&P500.
The move comes after 7 months negative chart setup for the $2.13B company. It was reported on Nov, 4 by Barchart.com. We have $14.78 PT which if reached, will make NYSE:DO worth $127.80M less.

Analysts await Diamond Offshore Drilling Inc (NYSE:DO) to report earnings on November, 7. They expect $0.16 EPS, down 84.16% or $0.85 from last year’s $1.01 per share. DO’s profit will be $21.68 million for 24.56 P/E if the $0.16 EPS becomes a reality. After $0.16 actual EPS 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. Diamond Offshore Drilling Inc. has been the topic of 46 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock has “Sector Perform” rating given by Howard Weil on Tuesday, August 4. As per Monday, June 13, the company rating was maintained by Bank of America. The company was initiated on Friday, October 9 by KeyBanc Capital Markets. Barclays Capital maintained Diamond Offshore Drilling Inc (NYSE:DO) rating on Monday, March 28. Barclays Capital has “Underweight” rating and $13 price target. The firm has “Hold” rating by Jefferies given on Thursday, November 19. Citigroup maintained Diamond Offshore Drilling Inc (NYSE:DO) on Friday, September 2 with “Neutral” rating. The stock of Diamond Offshore Drilling Inc (NYSE:DO) has “Neutral” rating given on Thursday, August 25 by Citigroup. The rating was upgraded by Deutsche Bank on Monday, September 28 to “Hold”. The firm has “Buy” rating given on Monday, September 19 by Zephrin Group. The stock has “Market Perform” rating given by Wells Fargo on Tuesday, September 1.

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 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.
State Of Wisconsin Invest Board has invested 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO). Paloma Prns Mgmt accumulated 0.02% or 57,356 shares. California State Teachers Retirement Systems owns 139,739 shares or 0.01% of their US portfolio. The Switzerland-based Lombard Odier Asset Management (Switzerland) Sa has invested 0.11% in Diamond Offshore Drilling Inc (NYSE:DO). Engineers Gate Manager L P holds 9,774 shares or 0.02% of its portfolio. The Germany-based Allianz Asset Mgmt Ag has invested 0% in Diamond Offshore Drilling Inc (NYSE:DO). State Board Of Administration Of Florida Retirement System accumulated 0.01% or 116,961 shares. Utd Automobile Association holds 19,752 shares or 0% of its portfolio. Moreover, Goodwin Daniel L has 0.09% invested in Diamond Offshore Drilling Inc (NYSE:DO) for 11,600 shares. Oregon Employees Retirement Fund has 0.02% invested in the company for 30,830 shares. Key Group (Cayman) Ltd holds 51,600 shares or 0.11% of its portfolio. Pnc last reported 4,888 shares in the company. Moreover, Fdx Advsrs Incorporated has 0.02% invested in Diamond Offshore Drilling Inc (NYSE:DO) for 15,334 shares. Moreover, Deutsche Bank & Trust Ag has 0.01% invested in Diamond Offshore Drilling Inc (NYSE:DO) for 696,512 shares. Kcg Inc holds 0.01% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 21,154 shares.

More news for Diamond Offshore Drilling Inc (NYSE:DO) were recently published by: Seekingalpha.com, which released: “Bullish On Diamond Offshore” on November 01, 2016. Finance.Yahoo.com‘s article titled: “Diamond Offshore Drilling posts 3Q profit” and published on October 31, 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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