A number of other brokerages have also commented on DO. SEB Equities raised shares of Diamond Offshore Drilling from a sell rating to a hold rating and reduced their target price for the stock from $10.00 to $7.70 in a research report on Tuesday, June 18th. Citigroup set a $5.00 target price on shares of Diamond Offshore Drilling and gave the stock a sell rating in a research report on Friday, June 14th. Tudor Pickering raised shares of Diamond Offshore Drilling from a hold rating to a buy rating in a research report on Thursday, June 13th. Piper Jaffray Companies set a $8.00 target price on shares of Diamond Offshore Drilling and gave the stock a hold rating in a research report on Thursday, July 11th. Finally, Morgan Stanley set a $10.00 target price on shares of Diamond Offshore Drilling and gave the stock a sell rating in a research report on Monday, July 15th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $12.12.
Diamond Offshore Drilling stock traded down $0.77 during midday trading on Thursday, reaching $7.41. The stock had a trading volume of 2,840,478 shares, compared to its average volume of 1,741,710. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.68 and a current ratio of 2.68. Diamond Offshore Drilling has a 52-week low of $7.12 and a 52-week high of $20.85. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -6.33 and a beta of 1.69. The stock has a fifty day simple moving average of $8.40.
About Diamond Offshore Drilling
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.
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