Diamond Offshore Drilling, Inc. (NYSE: DO)’s stock price has increased by 2.05 compared to its previous closing price of 14.17. However, the company has seen a 0.56% increase in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-07 that Diamond Offshore (DO) wins a two-year contract extension with a subsidiary of BP plc in the U.S. Gulf of Mexico, representing $350 million of additional backlog.
Is It Worth Investing in Diamond Offshore Drilling, Inc. (NYSE: DO) Right Now?
The stock has a 36-month beta value of 1.28. Opinions on the stock are mixed, with 3 analysts rating it as a “buy,” 0 as “overweight,” 18 as “hold,” and 8 as “sell.”
The public float for DO is 100.99M, and at present, short sellers hold a 4.18% of that float. On April 11, 2024, the average trading volume of DO was 1.47M shares.
DO’s Market Performance
The stock of Diamond Offshore Drilling, Inc. (DO) has seen a 0.56% increase in the past week, with a 14.58% rise in the past month, and a 20.00% gain in the past quarter. The volatility ratio for the week is 4.18%, and the volatility levels for the past 30 days are at 3.25% for DO. The simple moving average for the past 20 days is 7.33% for DO’s stock, with a 6.89% simple moving average for the past 200 days.
Analysts’ Opinion of DO
Many brokerage firms have already submitted their reports for DO stocks, with CapitalOne repeating the rating for DO by listing it as a “Overweight.” The predicted price for DO in the upcoming period, according to CapitalOne is $20 based on the research report published on November 28, 2023 of the previous year 2023.
BTIG Research, on the other hand, stated in their research note that they expect to see DO reach a price target of $20. The rating they have provided for DO stocks is “Buy” according to the report published on September 05th, 2023.
DO Trading at 15.01% from the 50-Day Moving Average
After a stumble in the market that brought DO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -16.51% of loss for the given period.
Volatility was left at 3.25%, however, over the last 30 days, the volatility rate increased by 4.18%, as shares surge +15.96% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.88% upper at present.
During the last 5 trading sessions, DO rose by +0.56%, which changed the moving average for the period of 200-days by +16.90% in comparison to the 20-day moving average, which settled at $13.57. In addition, Diamond Offshore Drilling, Inc. saw 11.23% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at DO starting from Savarino Dominic A, who sale 13,000 shares at the price of $13.16 back on Mar 19 ’24. After this action, Savarino Dominic A now owns 44,501 shares of Diamond Offshore Drilling, Inc., valued at $171,080 using the latest closing price.
ROLAND DAVID L, the SVP, General Counsel and Sec of Diamond Offshore Drilling, Inc., sale 5,000 shares at $11.99 during a trade that took place back on Mar 05 ’24, which means that ROLAND DAVID L is holding 80,306 shares at $59,951 based on the most recent closing price.
Stock Fundamentals for DO
Current profitability levels for the company are sitting at:
- 0.05 for the present operating margin
- 0.7 for the gross margin
The net margin for Diamond Offshore Drilling, Inc. stands at -0.04. The total capital return value is set at 0.03. Equity return is now at value -6.75, with -2.76 for asset returns.
Based on Diamond Offshore Drilling, Inc. (DO), the company’s capital structure generated 0.46 points at debt to capital in total, while cash flow to debt ratio is standing at 0.02. The debt to equity ratio resting at 0.87. The interest coverage ratio of the stock is 0.93.
Currently, EBITDA for the company is 157.98 million with net debt to EBITDA at 4.15. When we switch over and look at the enterprise to sales, we see a ratio of 2.02. The receivables turnover for the company is 4.11for trailing twelve months and the total asset turnover is 0.62. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.47.
Conclusion
To sum up, Diamond Offshore Drilling, Inc. (DO) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “sell” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
