Diamond Offshore Drilling (DO) : 1 brokerage houses believe that Diamond Offshore Drilling (DO) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 10 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Diamond Offshore Drilling (DO). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 5 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 18 Wall Street Analysts endorse the stock as a Hold with a rating of 3.43.
Diamond Offshore Drilling (DO) : 16 Wall Street analysts covering Diamond Offshore Drilling (DO) believe that the average level the stock could reach for the short term is $20.04. The maximum price target given is $33 and the minimum target for short term is around $15, hence the standard deviation is calculated at $4.8.
Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Diamond Offshore Drilling (NYSE:DO). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm lowers the price target from $21 per share to $18 per share. The rating by the firm was issued on September 2, 2016.
Diamond Offshore Drilling (NYSE:DO): After opening at $14.85, the stock dipped to an intraday low of $14.77 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $15.63 and the buying power remained strong till the end. The stock closed at $15.62 for the day, a gain of 5.54% for the day session. The total traded volume was 4,626,457. The stocks close on the previous trading day was $14.8.
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.