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.
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.
Through their ownership of 89.19% of DO’s outstanding shares, institutional investors have majority control over the company.
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.