The stock of Diamond Offshore Drilling Inc (NYSE:DO) is a huge mover today! About 2.37 million shares traded hands. Diamond Offshore Drilling Inc (NYSE:DO) has declined 36.22% since April 27, 2016 and is downtrending. It has underperformed by 41.44% the S&P500.
The move comes after 8 months positive chart setup for the $2.30B company. It was reported on Nov, 30 by Barchart.com. We have $18.87 PT which if reached, will make NYSE:DO worth $115.00 million more.
Analysts await Diamond Offshore Drilling Inc (NYSE:DO) to report earnings on February, 13. They expect $0.10 earnings per share, down 88.76% or $0.79 from last year’s $0.89 per share. DO’s profit will be $12.80M for 44.93 P/E if the $0.10 EPS becomes a reality. After $0.10 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. Diamond Offshore Drilling Inc. has been the topic of 46 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Tuesday, September 20, the company rating was upgraded by Evercore. The company was upgraded on Tuesday, November 3 by Evercore. Jefferies maintained Diamond Offshore Drilling Inc (NYSE:DO) on Wednesday, August 5 with “Hold” rating. The stock of Diamond Offshore Drilling Inc (NYSE:DO) earned “Market Perform” rating by Cowen & Co on Wednesday, August 5. The firm has “Neutral” rating by Citigroup given on Friday, January 29. The company was maintained on Tuesday, August 16 by Nomura. KeyBanc Capital Markets initiated the shares of DO in a report on Friday, October 9 with “Sector Weight” rating. FBR Capital maintained it with “Underperform” rating and $13 target price in Tuesday, November 1 report. The rating was upgraded by CLSA on Monday, October 17 to “Underperform”. The firm earned “Buy” rating on Tuesday, May 31 by KLR Group.
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 1.13 in Q2 2016. Its down 0.02, from 1.15 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.
Apriem Advsrs holds 0% or 150 shares in its portfolio. Jefferies Gru Llc holds 27,252 shares or 0% of its portfolio. First Interstate Bankshares has 100 shares for 0% of their US portfolio. National Bank & Trust Of Montreal Can holds 30,961 shares or 0% of its portfolio. Fifth Third National Bank owns 1,784 shares or 0% of their US portfolio. Da Davidson Co holds 0% or 1,150 shares in its portfolio. Wellington Group Llp reported 29,279 shares or 0% of all its holdings. Moreover, Parkside Savings Bank And Tru has 0% invested in Diamond Offshore Drilling Inc (NYSE:DO) for 31 shares. Reilly Advsr Ltd Liability holds 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 58 shares. Axa has 239,200 shares for 0.03% of their US portfolio. Babson Cap Limited holds 0.05% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 76,363 shares. Royal Bancshares Of Canada holds 475,963 shares or 0.01% of its portfolio. State Board Of Administration Of Florida Retirement System has 116,961 shares for 0.01% of their US portfolio. Lucus Advisors Limited Liability Corporation last reported 14,126 shares in the company. Oregon Public Employees Retirement Fund holds 0.02% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 30,830 shares.
Insider Transactions: Since November 8, 2016, the stock had 0 buys, and 1 insider sale for $62,004 net activity. 4,000 shares with value of $62,004 were sold by Gaffney Paul G on Tuesday, November 8.
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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