With 1.02 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.33 million shares. During the session, the Oil & Gas Drilling company that operates in wider Energy sector, reached to the highest price of $15.91 whereas the lowest price it dropped to was $15.54. The 52-week range on DO shows that it touched its highest point at $17.32 and its lowest point at $6.12 during that stretch. It currently has a 1-year price target of $18.00. Beta for the stock currently stands at 1.56.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DO was down-trending over the past week, with a drop of -2.31%, but this was up by 3.03% over a month. Three-month performance surged to 28.07% while six-month performance rose 59.53%. The stock gained 88.10% in the past year, while it has gained 50.48% so far this year. A look at the trailing 12-month EPS for DO yields 1.90 with Next year EPS estimates of 1.07. For the next quarter, that number is -0.30. This implies an EPS growth rate of 95.20% for this year and -50.21% for next year.
Float and Shares Shorts:
At present, 101.49 million DO shares are outstanding with a float of 101.17 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.74 million, which was 1.70% higher than short shares on Jul 30, 2023. In addition to Mr. Bernie G. Wolford as the firm’s Pres, CEO & Director, Mr. Dominic A. Savarino serves as its Sr. VP & CFO.
Institutional Ownership:
Through their ownership of 89.19% of DO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 65.11% of DO, in contrast to 25.61% held by mutual funds. Shares owned by individuals account for 0.81%. As the largest shareholder in DO with 7.42% of the stake, Contrarius Investment Management holds 7,592,548 shares worth 7,592,548. A second-largest stockholder of DO, KGH Ltd., holds 7,553,202 shares, controlling over 7.38% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in DO, holding 6,691,426 shares or 6.54% stake. With a 2.99% stake in DO, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,054,954 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.25% of DO stock, is the second-largest Mutual Fund holder. It holds 2,298,220 shares valued at 34.17 million. Vanguard Extended Market Index Fu holds 1.36% of the stake in DO, owning 1,389,120 shares worth 20.66 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, DO reported revenue of $205.70M and operating income of -$10.45M. The EBITDA in the recently reported quarter was -$10.49M and diluted EPS was -$0.22.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With DO analysts setting a high price target of $20.00 and a low target of $16.00, the average target price over the next 12 months is $18.00. Based on these targets, DO could surge 27.8% to reach the target high and rise by 2.24% to reach the target low. Reaching the average price target will result in a growth of 15.02% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded DO stock several times over the past three months with 4 Buys and 5 Sells. In these transactions, 100,587 shares were bought while 33,329 shares were sold. The number of buy transactions has increased to 9 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 444,572 while 183,066 shares were sold.
