Diamond Offshore Drilling, Inc. DO was a big mover last session, as the company saw its shares rise above 6% on the day. The upside came after the company’s announcement of solid third-quarter 2015 earnings on Monday prompted analysts to raise their price targets for it. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $18.62–$22.10 in the past one-month time frame.
In the last 30 days, the company has seen three upward and three downward estimate revisions, while the Zacks Consensus Estimate moved higher, suggesting that more solid trading could be ahead for Diamond Offshore. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Diamond Offshore carries a Zacks Rank #3 (Hold).
A better-ranked oil and gas drilling stock is Seadrill Partners LLC SDLP, which sports a Zacks Rank #1 (Strong Buy).
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