Diamond Offshore Drilling Inc. (NYSE:DO) finished Wednesday with an addition of $0.03 to close at $14.86, an upside of 0.20 percent. An average of 1,205,140 shares of common stock have been traded in the last five days. There was a fall of -$0.31 in the past week, and it reached a new high 45 times over the past 12 months. The last 20 days have seen an average of 1,159,575 shares traded, while the 50-day average volume stands at 1,282,466.
DO stock has decreased by -4.74% in the last month. The company shares reached their 1-month lowest point of $13.56 on 08/08/23. With the stock rallying to its 52-week high on 07/18/23, shares of the company touched a low of $6.12 and a high of $16.52 in 52 weeks. It has reached a new high 23 times so far this year and achieved 42.88% or $4.46 in price. In spite of this, the price is down -10.07% from the 52-week high.
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Insider Transactions
DO stock investors should be aware that Diamond Offshore Drilling Inc. (DO) stock had its last reported insider trading activity 34 days ago on Jul 07. In this transaction, the insider spent $86,955. Senior Vice President and CFO, Savarino Dominic A, disposed of 6,027 shares at a price of $10.94 on May 31. The insider now owns more than $65,922 worth of shares. Prior to that, Senior Vice President and CFO Savarino Dominic A went on to Sale 10,000 shares at $12.25 each on Mar 01. An amount of $122,516 was transacted.
Valuation Metrics
Diamond Offshore Drilling Inc. (DO) stock’s beta is 1.56. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.67, the price-to-book (PB) ratio at 2.18.
Financial Health
The quick ratio of Diamond Offshore Drilling Inc. for the recent quarter was 1.10, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.68 and a total debt to equity ratio of 0.71 for the recent quarter. Diamond Offshore Drilling Inc.’s EBITDA margin is 4.18%, while its operating margin for the same period stands at -3.90%. Its gross profit as reported stood at $105.33 million compared to revenue of $841.28 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Diamond Offshore Drilling Inc.’s return on assets was -4.10%.
Earnings Surprise
For the recent quarter, Diamond Offshore Drilling Inc. had $365.86 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $238.78 million in the quarter, while revenues of $7.23 million were grew 109.18%. At the end of the recent quarter, Diamond Offshore Drilling Inc.’s stock balance sheet showed total liabilities of 854.84 million. Shareholders own equity worth $102.32 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Diamond Offshore Drilling Inc. (DO) price momentum. RSI 9-day as of the close on 09 August was 41.91%, suggesting the stock is Neutral, with historical volatility in this time frame at 33.25%.
As of today, DO’s price is $15.19 -2.04% or -$0.31 from its 5-day moving average. DO is currently trading -4.93% lower than its 20-day SMA and +45.26% higher than its 100-day SMA. However, the stock’s current price level is +28.66% above the SMA50 and +75.44% above the SMA200.
The stochastic %K and %D were 39.22% and 38.03%, respectively, and the average true range (ATR) was 0.74. With the 14-day stochastic at 50.19% and the average true range at 0.71, the RSI (14) stands at 48.40%. The stock has reached -0.40 on the 9-day MACD Oscillator while the 14-day reading was at -0.53.
Analyst Ratings
The consensus rating for Diamond Offshore Drilling Inc. (DO) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell DO, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 4 others rate it as a “buy”.
What is DO’s price target for the next 12 months?
Analysts predict a range of price targets between $16.00 and $20.00, with a median target of $17.00. Taking a look at these predictions, the average price target given by analysts for Diamond Offshore Drilling Inc. (DO) stock is $17.40.
