Diamond Offshore Drilling Receives a Hold from Susquehanna

By Jason Carr

Susquehanna analyst Charles Minervino reiterated a Hold rating on Diamond Offshore Drilling (NYSE: DO) today and set a price target of $17. The company’s shares closed yesterday at $19.96, close to its 52-week high of $20.35.

According to TipRanks.com, Minervino is a 1-star analyst with an average return of -2.8% and a 54.0% success rate. Minervino covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Oil States International, and Schlumberger Limited.

Currently, the analyst consensus on Diamond Offshore Drilling is Hold and the average price target is $15.87, representing a -20.5% downside.

In a report released yesterday, Cowen & Co. also reiterated a Hold rating on the stock with a $18 price target.

The company has a one-year high of $20.35 and a one-year low of $10.06. Currently, Diamond Offshore Drilling has an average volume of 1.97M.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is negative on the stock.

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Diamond Offshore Drilling, Inc. engages in the provision of offshore and contract drilling services. The firm’s fleet of offshore drilling rigs consists of semisubmersibles, six jack-ups, and drillships. It also offers ultra-deepwater, deepwater and mid-water floaters. The company was founded on April 12, 1989 and is headquartered in Houston, TX.