The stock of Diamond Offshore Drilling Inc (NYSE:DO) is a huge mover today! About 1.91M shares traded hands. Diamond Offshore Drilling Inc (NYSE:DO) has declined 27.45% since April 13, 2016 and is downtrending. It has underperformed by 31.38% the S&P500.
The move comes after 8 months positive chart setup for the $2.37B company. It was reported on Nov, 15 by Barchart.com. We have $21.68 PT which if reached, will make NYSE:DO worth $734.70 million more.
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 of Diamond Offshore Drilling Inc (NYSE:DO) earned “Market Perform” rating by Cowen & Co on Wednesday, August 5. The stock has “Underperform” rating given by FBR Capital on Tuesday, November 1. Jefferies maintained the stock with “Hold” rating in Wednesday, September 28 report. The firm earned “Equal Weight” rating on Monday, October 31 by CapitalOne. The stock of Diamond Offshore Drilling Inc (NYSE:DO) has “Neutral” rating given on Thursday, August 25 by Citigroup. The firm has “Buy” rating given on Tuesday, September 20 by Evercore. FBR Capital maintained the shares of DO in a report on Tuesday, August 4 with “Underperform” rating. The rating was maintained by Howard Weil with “Sector Perform” on Tuesday, August 4. The rating was upgraded by Iberia Capital Partners on Tuesday, November 3 to “Sector Perform”. The rating was initiated by Citigroup with “Sell” on Tuesday, October 20.
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 dropped, 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.
Panagora Asset Management holds 0.02% or 153,578 shares in its portfolio. Rowland Inv Counsel Adv holds 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 8,335 shares. Advisory Svcs Networks Limited Com last reported 43 shares in the company. Moreover, Timber Hill Ltd Llc has 0% invested in Diamond Offshore Drilling Inc (NYSE:DO) for 16,926 shares. Parkside Fin National Bank And Trust has 31 shares for 0% of their US portfolio. Alliancebernstein Lp reported 112,714 shares or 0% of all its holdings. Schwab Charles Investment Mgmt reported 610,044 shares or 0.02% of all its holdings. Commonwealth Equity last reported 9,864 shares in the company. Pinebridge Limited Partnership reported 144,896 shares or 0.18% of all its holdings. Amer International has invested 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO). First Trust Advsrs Ltd Partnership last reported 1.17M shares in the company. Assetmark owns 12,583 shares or 0.01% of their US portfolio. Clinton holds 0.05% or 47,124 shares in its portfolio. Whitnell Com last reported 0% of its portfolio in the stock. The Indiana-based Everence Management Inc has invested 0.09% in Diamond Offshore Drilling Inc (NYSE:DO).
Insider Transactions: Since November 8, 2016, the stock had 0 insider buys, and 1 sale for $62,004 net activity. Gaffney Paul G had sold 4,000 shares worth $62,004 on Tuesday, November 8.
Another recent and important Diamond Offshore Drilling Inc (NYSE:DO) news was published by Prnewswire.com which published an article titled: “Diamond Offshore Announces Third Quarter 2016 Results” on October 31, 2016.
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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