Analyst Price Target Update on Diamond Offshore Drilling (NYSE:DO)

Diamond Offshore Drilling (NYSE:DO): The stock price is expected to reach $ 20.8 in the short term. The number of analysts agreeing with this consensus is 15. The higher estimate for the short term price target is at $33 while the lower estimate is at $14. The standard deviation of the price stands at $4.74.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, KLR Group, upgrades their rating on the shares of Diamond Offshore Drilling (NYSE:DO). KLR Group has a Buy rating on the shares. Previously, the analysts had a Accumulate rating on the shares. The rating by the firm was issued on May 31, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, 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 (NYSE:DO) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.04 points or 0.16% at $24.28 with 1,901,112 shares getting traded. Post opening the session at $24.13, the shares hit an intraday low of $23.87 and an intraday high of $24.79 and the price was in this range throughout the day. The company has a market cap of $3,330 million and the number of outstanding shares have been calculated to be 137,169,660 shares. The 52-week high of Diamond Offshore Drilling (NYSE:DO) is $28.97 and the 52-week low is $14.175.

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.

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