The stock of Diamond Offshore Drilling Inc (NYSE:DO) is a huge mover today! About 2.74 million shares traded hands. Diamond Offshore Drilling Inc (NYSE:DO) has declined 21.59% since March 2, 2016 and is downtrending. It has underperformed by 29.85% the S&P500.
The move comes after 5 months positive chart setup for the $2.21 billion company. It was reported on Oct, 5 by Barchart.com. We have $24.86 PT which if reached, will make NYSE:DO worth $1.04 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 $20.90M for 26.44 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 22 analysts covering Diamond Offshore Drilling Inc. (NYSE:DO), 6 rate it a “Buy”, 4 “Sell”, while 12 “Hold”. This means 27% are positive. Diamond Offshore Drilling Inc. has been the topic of 42 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was upgraded by Zephrin Group to “Buy” on Monday, September 19. RBC Capital Markets maintained the shares of DO in a report on Friday, August 12 with “Sector Perform” rating. The rating was maintained by Citigroup with “Neutral” on Wednesday, March 16. On Monday, September 28 the stock rating was upgraded by Deutsche Bank to “Hold”. The firm earned “Hold” rating on Thursday, November 19 by Jefferies. As per Tuesday, August 4, the company rating was maintained by Howard Weil. On Tuesday, August 16 the stock rating was maintained by Nomura with “Reduce”. Citigroup upgraded Diamond Offshore Drilling Inc (NYSE:DO) rating on Friday, January 29. Citigroup has “Neutral” rating and $18 price target. Iberia Capital Partners upgraded Diamond Offshore Drilling Inc (NYSE:DO) on Tuesday, November 3 to “Sector Perform” rating. On Wednesday, September 28 the stock rating was maintained by Jefferies with “Hold”.
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 turned negative, 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.
Pnc Fin Svcs Gp Incorporated reported 4,888 shares or 0% of all its holdings. First Republic Incorporated holds 0.01% or 25,209 shares in its portfolio. Schwab Charles Mngmt reported 610,044 shares or 0.02% of all its holdings. Moreover, New Mexico Educational Retirement Board has 0.01% invested in Diamond Offshore Drilling Inc (NYSE:DO) for 7,083 shares. Ajo L P accumulated 1.16 million shares or 0.13% of the stock. Plante Moran Advsr Ltd Co accumulated 99 shares or 0% of the stock. Price T Rowe Associate Md, a Maryland-based fund reported 638,910 shares. Convergence Invest Prns Ltd Limited Liability Company accumulated 130,670 shares or 0.44% of the stock. Meeder Asset Management has 0.1% invested in the company for 43,138 shares. First Trust Advsr Limited Partnership accumulated 0.09% or 1.17 million shares. Td Asset Mngmt last reported 249,844 shares in the company. Blackrock Inc last reported 96,647 shares in the company. Moreover, Blackrock Group Ltd has 0% invested in Diamond Offshore Drilling Inc (NYSE:DO) for 174,072 shares. Moreover, Teachers has 0.01% invested in Diamond Offshore Drilling Inc (NYSE:DO) for 133,995 shares. Nordea Invest Mgmt Ab has invested 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO).
More recent Diamond Offshore Drilling Inc (NYSE:DO) news were published by: Marketwatch.com which released: “Coty to replace Diamond Offshore Drilling on S&P 500” on September 27, 2016. Also Seekingalpha.com published the news titled: “Diamond Offshore Drilling: Scrapping Ahead” on September 21, 2016. Prnewswire.com‘s news article titled: “Coty Set to Join the S&P 500; Diamond Offshore Drilling to Join S&P MidCap 400 …” with publication date: September 27, 2016 was also an interesting one.
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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