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

Diamond Offshore Drilling (NYSE:DO) : Currently there are 15 street experts covering Diamond Offshore Drilling (NYSE:DO) stock. The most bullish and bearish price target for the stock is $34 and $14 respectively for the short term. The average price target of all the analysts comes to $21.53. The estimated standard deviation from the target is $5.83.

Other Equity analysts have also commented on the company shares. Bank of America reinstates its rating on Diamond Offshore Drilling (NYSE:DO). Analysts at the Bank of America have a current rating of Buy on the shares. The rating by the firm was issued on June 13, 2016.

Diamond Offshore Drilling (NYSE:DO): stock turned positive on Thursday. Though the stock opened at $25.76, the bulls momentum made the stock top out at $26.18 level for the day. The stock recorded a low of $25.56 and closed the trading day at $25.86, in the green by 1.33%. The total traded volume for the day was 2,045,044. The stock had closed at $25.52 in the previous days trading.

The company shares have dropped -2.82% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $27.05 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $24.50 and the 200 Day Moving Average price is recorded at $21.60. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Diamond Offshore Drilling Inc, Grebow Edward, had purchased 3,000 shares in a transaction dated on August 7, 2015. The transaction was executed at $21.99 per share with total amount equaling $65,970.

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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