The stock of Diamond Offshore Drilling Inc (NYSE:DO) is a huge mover today! About 1.51M shares traded hands. Diamond Offshore Drilling Inc (NYSE:DO) has declined 24.79% since March 11, 2016 and is downtrending. It has underperformed by 30.25% the S&P500.
The move comes after 6 months negative chart setup for the $2.32 billion company. It was reported on Oct, 14 by Barchart.com. We have $16.34 PT which if reached, will make NYSE:DO worth $116.00 million 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 $21.58 million for 26.88 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 23 analysts covering Diamond Offshore Drilling Inc. (NYSE:DO), 6 rate it a “Buy”, 4 “Sell”, while 13 “Hold”. This means 26% are positive. Diamond Offshore Drilling Inc. has been the topic of 43 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was maintained by Jefferies with “Hold” on Thursday, November 19. The firm has “Sector Perform” rating by Howard Weil given on Wednesday, September 14. Nomura maintained the shares of DO in a report on Tuesday, August 16 with “Reduce” rating. The stock of Diamond Offshore Drilling Inc (NYSE:DO) earned “Accumulate” rating by Seaport Global on Monday, March 14. The stock of Diamond Offshore Drilling Inc (NYSE:DO) has “Sector Perform” rating given on Tuesday, November 3 by Iberia Capital Partners. The stock has “Buy” rating given by KLR Group on Tuesday, May 31. 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 “Neutral” rating by Goldman Sachs on Friday, March 11. Howard Weil maintained the stock with “Sector Perform” rating in Tuesday, August 4 report. The firm earned “Underweight” rating on Monday, March 28 by Barclays Capital.
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.
Blackrock Inv Mngmt Limited Liability Corporation owns 135,207 shares or 0% of their US portfolio. Nordea Invest Management holds 0% or 876 shares in its portfolio. The Pennsylvania-based Mycio Wealth Prns has invested 0% in Diamond Offshore Drilling Inc (NYSE:DO). Euclid Ltd accumulated 0% or 1,520 shares. Paloma Prns Mgmt has 0.02% invested in the company for 57,356 shares. Advisory Network Limited Liability Company holds 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 43 shares. Swiss Fincl Bank has 113,353 shares for 0% of their US portfolio. Nomura Asset Mngmt Co accumulated 4,360 shares or 0% of the stock. Next Fincl Group Inc Inc reported 7 shares or 0% of all its holdings. Mercer Advisers has 0.01% invested in the company for 702 shares. Manufacturers Life Ins Co The holds 66,719 shares or 0% of its portfolio. Gabelli Funds Lc has 0.01% invested in the company for 70,000 shares. Arizona State Retirement System reported 15,854 shares or 0.01% of all its holdings. Ftb Advisors has invested 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO). Toronto Dominion Retail Bank reported 280 shares or 0% of all its holdings.
More recent Diamond Offshore Drilling Inc (NYSE:DO) news were published by: Fool.com which released: “Here’s Why Diamond Offshore Drilling Inc.’s Stock is Sinking Today” on September 01, 2016. Also Zacks.com published the news titled: “What’s in Store for Diamond Offshore’s Rig Contract with BP?” on October 12, 2016. Nasdaq.com‘s news article titled: “The Zacks Analyst Blog Highlights: Halliburton, Schlumberger, Weatherford …” with publication date: October 13, 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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