Diamond Offshore Drilling (NYSE:DO) : 16 analysts are covering Diamond Offshore Drilling (NYSE:DO) and their average rating on the stock is 3.36, which is read as a Hold. 1 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Diamond Offshore Drilling (NYSE:DO) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 4 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 9 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Diamond Offshore Drilling (NYSE:DO) : The highest short term price target forecast on Diamond Offshore Drilling (NYSE:DO) is $34 and the lowest target price is $14. A total of 15 equity analysts are currently covering the company. The average price of all the analysts is $21.53 with a standard deviation of $5.83.
Company shares have received an average consensus rating of Hold for the current week Also, Equity Analysts at the Brokerage Firm, Bank of America, reinstates their rating on the shares of Diamond Offshore Drilling (NYSE:DO). Bank of America has a Buy rating on the shares. The rating by the firm was issued on June 13, 2016.
Diamond Offshore Drilling (NYSE:DO): stock turned positive on Tuesday. Though the stock opened at $24.07, the bulls momentum made the stock top out at $24.48 level for the day. The stock recorded a low of $23.69 and closed the trading day at $23.98, in the green by 2.35%. The total traded volume for the day was 1,914,039. The stock had closed at $23.43 in the previous days trading.
In an insider trading activity, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Diamond Offshore Drilling Inc, Grebow Edward had purchased shares worth of $65,970 in a transaction dated on August 7, 2015. A total of 3,000 shares were purchased at a price of $21.99 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Diamond Offshore Drilling, Inc. is a company engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of 38 offshore drilling rigs, including 27 semisubmersibles, six jack-ups and five drillships. The Companys diverse fleet enables the Company to offer a range of services around the world in both the floater market (ultra-deepwater, deepwater and mid-water) and the non-floater, or jack-up, market. The Companys floater fleet (semisubmersibles and drillships) is of three types: ultra-deepwater, deepwater, and mid-water. Jack-up rigs are mobile, self-elevating drilling platforms equipped with legs that are lowered to the ocean floor. The Companys jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of the Companys 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.