Diamond Offshore Drilling (DO): Price Target and June Short Interest Disclosure

Diamond Offshore Drilling (DO) : The consensus price target for Diamond Offshore Drilling (DO) is $21.53 for the short term with a standard deviation of $5.83. The most optimist securities analyst among the 15 who monitor the stock believes that the stock can reach $34, however, the pessimist price target for the company is $14.

The short interest in Diamond Offshore Drilling (DO) has increased from 15,892,126 on June 15,2016 to 16,581,406 on June 30,2016. The change was measured at 689,280 shares or 4.3%. The leftover shorts were 12.1% of the floated shares. The days to cover are 8, given the average daily volume of 1,972,165 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity Analysts at the Bank of America reinstates the rating on Diamond Offshore Drilling (NYSE:DO). The brokerage firm has issued 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 Thursday. Though the stock opened at $25.34, the bulls momentum made the stock top out at $26.49 level for the day. The stock recorded a low of $25.32 and closed the trading day at $25.81, in the green by 3.08%. The total traded volume for the day was 3,241,962. The stock had closed at $25.04 in the previous days trading.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.