[EDGAR] Diamond Offshore Drilling Inc (NYSE:DO) (TREND ANALYSIS), The following discussion should be read in conjunction with our Consolidated Financial Statements (including the Notes thereto) in Item 8 of this report.
We are a leader in offshore drilling, providing contract drilling services to the energy industry around the globe with a fleet of 38 offshore drilling rigs, excluding three mid-water semisubmersible rigs that we plan to retire and scrap. In late 2014, we took delivery of two ultra-deepwater drillships, the Ocean BlackHornet and Ocean BlackRhino. Contract preparation work is underway for both rigs, which are expected to commence drilling operations in the GOM in the second quarter of 2015. Construction of the Ocean Apex was completed late in the fourth quarter of 2014, and the rig is currently operating under a one-well contract in Vietnam.
During the first quarter of 2015, we expect to take delivery of our remaining ultra-deepwater drillship Ocean BlackLion and to complete the service-life-extension project for the ultra-deepwater Ocean Confidence. We expect the harsh environment, ultra-deepwater semisubmersible Ocean GreatWhite to be delivered in the first quarter of 2016.
Stock Performance: Click here for a free comprehensive Trend Analysis Report
Diamond Offshore Drilling, Inc. (NYSE:DO) is currently trading 49.06% below its 52-week-high, 2.05% above its 52-week-low and in the range of $26.28-$37.56 over the past month. The 1-year range for the stock is $26.28-$52.65. Diamond Offshore Drilling, Inc. (DO) has a price to book ratio of 0.83 versus S&P 500 average of 2.81. The company’s share price has underperformed the S&P 500 year to date by -26.41%
The company is currently valued at $3.68 billion and closed the last trading session at $26.82. The stock has 50-day moving average of $32.91 and a 200-day moving average of $39.49.
Diamond Offshore Drilling, Inc. (DO) current short interest stands at 13,262,880 shares. It has decreased by -21% from the same period of last month. Around 20.4% of the company’s shares, which are float, are short sold. With a 30-days average daily volume of 1,975,746 shares, the number of days required to cover the short positions stand at 6.4 days.
Stock Analyst Perspectives: Click here for a free Trend Analysis Report
There are currently thirty-three analysts that we track that cover DO. Of those thirty-three, one have a buy rating, thirteen have a hold rating, and nineteen have a sell rating. On a consensus basis this yields to a Sell. The overall consensus target price stands at $26.22 which represents a downside difference of -2.25% from the last closing price of $26.82.
Recently, several research firms updated their ratings on the stock. Indeed, in the last five days, an average price target of $27.08 has been given to the stock, which represents an upside of 0.98% from the last closing price.
Indeed, Guggenheim Securities LLC maintained their neutral stance on March 10th. Another research firm, BMO Capital Markets, maintained their underperform stance on March 09th, with a target price of $21, which translates into a downside difference of -21.7%. Finally, Raymond James maintained their market perform stance on February 24th.
Company Profile
Diamond Offshore Drilling, Inc. is a global offshore oil and gas drilling contractor. The Company is a deep water driller that serves markets that include the deep water, harsh environment, conventional semisubmersible and jack-up markets.
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