Diamond Offshore Drilling, Inc. (NYSE: DO) stock fell -1.92% on Monday to $12.24 against a previous-day closing price of $12.48. With 1.06 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.37 million shares. During the session, the Oil & Gas Drilling company that operates in wider Energy sector, reached to the highest price of $12.85 whereas the lowest price it dropped to was $12.23. The 52-week range on DO shows that it touched its highest point at $17.32 and its lowest point at $8.40 during that stretch. It currently has a 1-year price target of $18.83. Beta for the stock currently stands at 1.43.
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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 -3.55%, but this was down by -6.64% over a month. Three-month performance dropped to -19.95% while six-month performance fell -0.33%. The stock gained 24.14% in the past year, while it has gained 17.69% so far this year. A look at the trailing 12-month EPS for DO yields 0.42 with Next year EPS estimates of 0.74. For the next quarter, that number is 0.10. This implies an EPS growth rate of 239.96% for this year and -48.88% for next year.
Float and Shares Shorts:
At present, 101.32 million DO shares are outstanding with a float of 100.97 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.75 million, which was 1.71% higher than short shares on Sep 28, 2023. In addition to Mr. Bernie G. Wolford as the firm’s President, CEO & Director, Mr. Dominic A. Savarino serves as its Senior VP & CFO.
Institutional Ownership:
Through their ownership of 89.19% of DO’s outstanding shares, institutional investors have majority control over the company.
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 $23.00 and a low target of $16.00, the average target price over the next 12 months is $18.83. Based on these targets, DO could surge 87.91% to reach the target high and rise by 30.72% to reach the target low. Reaching the average price target will result in a growth of 53.84% from current levels.
Summary of Insider Activity:
Insiders traded DO stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 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.
