As of Wednesday close, Diamond Offshore Drilling Inc.’s (NYSE:DO) stock was up $0.57, moving up 3.98 percent to $14.90. The average number of shares traded per day over the past five days has been 1,135,800 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.33 fall in that time frame. In the last twenty days, the average volume was 1,077,070, while in the previous 50 days, it was 1,283,756.
Since last month, DO stock retreated -4.73%. Shares of the company fell to $13.56 on 08/08/23, the lowest level in the past month. A 52-week high of $16.52 was reached on 07/18/23 after having rallying from a 52-week low of $6.12. Since the beginning of this year, DO’s stock price has risen by 43.27% or $4.50, and marked a new high 23 times. However, the stock has declined by -9.82% since its 52-week high.
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Sponsored
DO stock investors should be aware that Diamond Offshore Drilling Inc. (DO) stock had its last reported insider trading activity 55 days ago on Jul 07. Savarino Dominic A, the Senior Vice President and CFO of the company, disposed of 5,797 shares for $15.00 on Jul 07. It resulted in a $86,955 divestment by the insider. Savarino Dominic A sold 6,027 shares at an average price of $10.94 on May 31. The insider now owns 40,608 shares following the transaction. On Mar 01, Senior Vice President and CFO Savarino Dominic A sold 10,000 shares at $12.25 apiece. The transaction was valued at $122,516.
Valuation Metrics
Right now, Diamond Offshore Drilling Inc. (DO) has a P/E ratio of about 7.86. The stock’s beta is 1.58. Besides these, the trailing price-to-sales (P/S) ratio of 1.58, the price-to-book (PB) ratio of 1.62.
The latest dividend of $0.1250 per share was paid out, remained unchanged from last year’s $0.1250.
Financial Health
In the three months ended June 29, Diamond Offshore Drilling Inc.’s quick ratio stood at 1.50, while its current ratio was 1.50, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.52, and the total debt-to-equity ratio was 0.54. On the profitability front, the trailing twelve-month gross margin is 16.50% percent. In the year ended June 29, EBITDA margin amounted to 4.18%, whereas operating margins totaled -1.50%. Based on annual data, DO earned $105.33 million in gross profit and brought in $841.28 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -5.10%. Return on equity (ROE) for the past 12 months was 26.30%.
In Diamond Offshore Drilling Inc.’s quarter-end financial report for June 29, it reported total debt of $365.86 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. DO’s revenue rose 26.94% to $232.02 million during the quarter, while net income inched up to $281.56 million. While analysts expected Diamond Offshore Drilling Inc. to report -$0.11 quarterly earnings, the actual figure was $2.29 per share, beating the consensus estimate by 2,181.80%. During the quarter, the company generated $38.15 million in EBITDA. The liabilities of Diamond Offshore Drilling Inc. were 854.84 million at the end of its most recent quarter ended June 29, and its total debt was $510.88 million. The value of shareholders’ equity is $102.32 million.
Technical Picture
This quick technical analysis looks at Diamond Offshore Drilling Inc.’s (DO) price momentum. With a historical volatility rate of 45.08%, the RSI 9-day stood at 49.01% on 30 August.
With respect to its five-day moving average, the current Diamond Offshore Drilling Inc. price is down by -2.17% percent or -$0.33. At present, DO shares trade -1.78% below its 20-day simple moving average and +30.93% percent above its 100-day simple moving average. However, the stock is currently trading approximately +22.94% above its SMA50 and +56.02% above its SMA200.
Stochastic coefficient K was 20.91% and Stochastic coefficient D was 20.80%, while ATR was 0.65. Given the Stochastic reading of 41.57% for the 14-day period, the RSI (14) reading has been calculated as 49.39%. As of today, the MACD Oscillator reading stands at -0.45, while the 14-day reading stands at -0.50.
Analyst Ratings
Diamond Offshore Drilling Inc. (DO) has been rated Overweight by analysts. According to 0 brokerage firms, DO is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Diamond Offshore Drilling Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $17.00, the current consensus forecast for the stock is $16.00 – $20.00. Based on these forecasts, analysts predict Diamond Offshore Drilling Inc. (DO) will achieve an average price target of $17.40.
