DO Stock Summary and Trading Ideas (Diamond Offshore Drilling | NYSE:DO)

Diamond Offshore Drilling Inc is a leader in offshore drilling, providing contract drilling services to the energy industry around the globe with a fleet of offshore drilling rigs, semisubmersibles, and dynamically positioned drillships. It provides services geographically in the United States, Senegal, the United Kingdom, Australia, and Brazil.

Diamond Offshore Drilling trades on the NYSE stock market under the symbol DO.

As of April 17, 2024, DO stock price declined to $13.01 with 1,437,927 million shares trading.

DO has a beta of 0.84, meaning it tends to be less sensitive to market movements. DO has a correlation of 0.07 to the broad based SPY ETF.

DO has a market cap of $1.33 billion. This is considered a Small Cap stock.

Last quarter Diamond Offshore Drilling reported $298 million in Revenue and -$1.42 earnings per share. This beat revenue expectation by $7 million and missed earnings estimates by -$1.54.

The top ETF exchange traded funds that DO belongs to (by Net Assets): VTI, IWM, VXF, IWN, XES.

DO has underperformed the market in the last year with a price return of +4.2% while the SPY ETF gained +23.0%. However, in the short term, DO had mixed performance relative to the market. It has outperformed in the last 3 months, returning +10.2% vs +5.7% return in SPY. But in the last 2 weeks, DO shares have been beat by the market, returning -7.0% compared to an SPY return of -3.5%.

DO support price is $13.23 and resistance is $13.85 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that DO stock will trade within this expected range on the day.