Diamond Offshore (NYSE:DO) Downgrade of Rating
Diamond Offshore (NYSE:DO)’s stock was decreased to Underperform by investment analysts at Raymond James. DO’s Mkt Perform rating is no longer valid.
In spite of this rating downgrade NYSE:DO is currently trading 0.33% higher at $15.03 as of 4:06 PM New York time. Diamond Offshore shares have [From2] 0% over the last 200 days, while the S&P 500 Index has surged 6.00% over the same time period.
Out of 28 analysts covering Diamond Offshore, 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 37.13% over the current price.
Loews Corp had the biggest stake with ownership of 73.12M shares as of q2 2015 for 10.4% of the long stock exposure. Alpine Partners Vi Llc is another quite bullish investment professional who is having 39,832 shares of Diamond Offshore or 1.73% of their long stock exposure. Further, Majedie Asset Management Ltd have 1.72% of their long stock exposure invested in the company for 608,708 shares. The Jersey-based fund Contrarius Investment Management Ltd revealed it had acquired so far a stake worth about 1.48% of the investment professional’s stock portfolio in Diamond Offshore. The New York-based fund Sir Capital Management L.P. is also positive about the stock, possessing 1.14M shares or 1.46% of their long stock exposure.
Diamond Offshore (NYSE:DO) Profile
Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig.
Diamond Offshore (NYSE:DO) traded up 0.33% on 9 February, hitting $15.03. A total of 687,035 shares of the company’s stock traded hands. This is down from average of 2.85M shares. Diamond Offshore has a 52 week low of $10.06 and a 52 week high of $22.65. The company has a market cap of $2.06B and a P/E ratio of 12.17.
Get the latest Diamond Offshore (NYSE:DO) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.
The post Raymond James Reduces Diamond Offshore (NYSE:DO) to Underperform From Mkt Perform Stock Rating appeared first on Octafinance.