Finally Time To Buy Shares of Diamond Offshore Drilling (NYSE:DO)? Clarksons Platou Has Upgraded The Company With a $16 Target

November 9, 2018 - By Alex Paulin

Diamond Offshore Drilling, Inc. (NYSE:DO) Logo

Investors sentiment increased to 1.04 in 2018 Q2. Its up 0.20, from 0.84 in 2018Q1. It is positive, as 26 investors sold Diamond Offshore Drilling, Inc. shares while 65 reduced holdings. 37 funds opened positions while 58 raised stakes. 144.53 million shares or 1.15% more from 142.89 million shares in 2018Q1 were reported.

California State Teachers Retirement accumulated 99,200 shares. First Republic Invest, a California-based fund reported 51,666 shares. 46,314 were reported by Federated Inc Pa. Exane Derivatives accumulated 1 shares or 0% of the stock. Citigroup accumulated 1,723 shares. Cwm Limited Liability Co stated it has 40 shares or 0% of all its holdings. Strategic Global Ltd Com stated it has 0.07% in Diamond Offshore Drilling, Inc. (NYSE:DO). Teachers Retirement System Of The State Of Kentucky stated it has 0% of its portfolio in Diamond Offshore Drilling, Inc. (NYSE:DO). Pnc Financial Svcs Gp Inc reported 0% in Diamond Offshore Drilling, Inc. (NYSE:DO). Mason Street Advsrs reported 0.02% in Diamond Offshore Drilling, Inc. (NYSE:DO). Illinois-based Guggenheim Cap Ltd Liability Com has invested 0.01% in Diamond Offshore Drilling, Inc. (NYSE:DO). State Street holds 0.01% or 2.93 million shares in its portfolio. Glenmede Communications Na reported 0% stake. Dorsey Wright And Associate invested in 165,588 shares. The Oregon-based Oregon Pub Employees Retirement Fund has invested 0.01% in Diamond Offshore Drilling, Inc. (NYSE:DO).

Since May 9, 2018, it had 0 insider buys, and 1 insider sale for $34,409 activity. 1,744 Diamond Offshore Drilling, Inc. (NYSE:DO) shares with value of $34,409 were sold by ROLAND DAVID L.

Diamond Offshore Drilling (NYSE:DO) Stock Upgrade

Clarksons Platou increased shares of Diamond Offshore Drilling (NYSE:DO) from a Neutral rating to a Buy rating in a report issued to clients and investors on 8 November. The firm after the upgrade has a respectable $16 price target on the shares.

Diamond Offshore Drilling, Inc. (NYSE:DO) Ratings Coverage

Among 9 analysts covering Diamond Offshore Drilling (NYSE:DO), 3 have Buy rating, 4 Sell and 2 Hold. Therefore 33% are positive. Diamond Offshore Drilling has $20.8 highest and $14 lowest target. $16.97’s average target is 18.59% above currents $14.31 stock price. Diamond Offshore Drilling had 10 analyst reports since July 20, 2018 according to SRatingsIntel. Wells Fargo maintained Diamond Offshore Drilling, Inc. (NYSE:DO) on Tuesday, November 6 with “Market Perform” rating. Credit Suisse maintained Diamond Offshore Drilling, Inc. (NYSE:DO) on Tuesday, July 31 with “Underperform” rating. As per Thursday, August 9, the company rating was maintained by Barclays Capital. HSBC upgraded Diamond Offshore Drilling, Inc. (NYSE:DO) rating on Friday, September 21. HSBC has “Buy” rating and $20.8 target. The stock has “Accumulate” rating by Fearnleys on Thursday, October 18. The firm earned “Outperform” rating on Thursday, September 20 by RBC Capital Markets. The firm has “Neutral” rating given on Wednesday, August 1 by FBR Capital. The stock has “Underweight” rating by JP Morgan on Friday, October 12. The rating was downgraded by Fearnleys to “Reduce” on Friday, July 20.

The stock decreased 2.12% or $0.31 during the last trading session, reaching $14.31. About 3.06M shares traded or 86.21% up from the average. Diamond Offshore Drilling, Inc. (NYSE:DO) has risen 30.34% since November 9, 2017 and is uptrending. It has outperformed by 14.72% the S&P500.

Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry worldwide. The company has market cap of $1.97 billion. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. It currently has negative earnings. The firm operates a fleet of 24 offshore drilling rigs, which comprise 4 drillships, 8 ultra-deepwater, 6 deepwater, 5 mid-water semisubmersibles, and 1 jack-up rig.

More important recent Diamond Offshore Drilling, Inc. (NYSE:DO) news were published by: Seekingalpha.com which released: “Diamond Offshore +5% as Q3 loss comes in lighter than expected” on November 05, 2018, also Seekingalpha.com published article titled: “Diamond Offshore Drilling (DO) CEO, Marc Edwards on Q3 2018 Results – Earnings Call Transcript”, Benzinga.com published: “Earnings Scheduled For November 5, 2018” on November 05, 2018. More interesting news about Diamond Offshore Drilling, Inc. (NYSE:DO) was released by: Seekingalpha.com and their article: “Diamond Offshore: Q3 In Depth” with publication date: November 06, 2018.

Diamond Offshore Drilling, Inc. (NYSE:DO) Institutional Positions Chart

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