Diamond Offshore Drilling Inc (NYSE:DO) Rating Reiterated

Citigroup currently has a $18.00 target price on the $2.02B market cap company or 9.02 % upside potential. In a note shared with investors and clients on Friday, 2 September, Diamond Offshore Drilling Inc (NYSE:DO) stock had its “Neutral” Rating reiterated by professional analysts at Citigroup.

Out of 28 brokers covering Diamond Offshore Drilling Inc., 2 rate it a Buy, 21 indicate a Hold while 11 suggest a Sell. The highest target is $33 and the lowest is $13 according to Thomson/First Call. The 12-month mean target is $20.61, which means upside potential of 24.83% over the current price.

NYSE:DO Price Chart & Trend

The stock price of Diamond Offshore Drilling Inc. plummeted 24.92% over the last 200 days, and is in strong down trend. In the last 50 and 100 days, Diamond Offshore Drilling Inc. is down 35.31% and down 25.8%, respectively. Our stocks momentum model is shown on the price chart below.

Source: RightEdge Systems, Yahoo Split & Dividend Adjusted Data and OctaFinance Trading Models

Institutional Ownership

Loews Corp had the most significant stake with ownership of 72.89 million shares as of Q2 2015 for 13.78% of the fund portfolio. Mount Lucas Management Lp is another quite bullish investment professional who is having 557,741 shares of Diamond Offshore Drilling Inc. or 2.76% of their fund portfolio. Also, Van Den Berg Management I Inc have 2.61% of their fund portfolio invested in the company for 893,175 shares. The Georgia-based fund Equity Investment Corp Ga disclosed it had purchased so far a stake worth about 2% of the investment professional’s stock portfolio in Diamond Offshore Drilling Inc.. The France-based fund Tobam is also positive about the stock, possessing 2.82 million shares or 1.43% of their fund portfolio.

Diamond Offshore Drilling Inc (NYSE:DO) Profile

Diamond Offshore Drilling, Inc. is engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. Its fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water).

Diamond Offshore Drilling Inc (NYSE:DO) closed at $16.51 yesterday. A total of 650 shares of the company’s stock traded hands. This is down from average of 2.43 million shares. Diamond Offshore Drilling Inc. has a 52 week low of $14.18 and a 52 week high of $26.72. The company has a market cap of $2.02 billion and a P/E ratio of 0.

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The post 9.02 % to Target, Citigroup Maintains “Neutral” Rating for Diamond Offshore Drilling Inc (NYSE:DO) Stock appeared first on Octafinance.