Diamond Offshore Drilling Inc (DO): Good buy? Diamond Offshore (DO) sha...

Reply Private New

Next 10 Prev Next

Send PM Follow Ignore

Followers	76
Posts	3712
Boards Moderated	0
Alias Born	10/23/2010

OilStockReport

Re: Bart Myers post# 24

Thursday, 05/05/2011 3:39:35 PM

Thursday, May 05, 2011 3:39:35 PM

Good buy?

Diamond Offshore (DO) shares are trading at $71.26. Diamond is an offshore drilling company. These shares have traded in a range between $54.70 to $81.19 in the last 52 weeks. The 50-day moving average is $75.83 and the 200-day moving average is $67.42. Earnings estimates indicate a profit of $6.05 per share for 2011 and $5.46 for 2012. Diamond pays a dividend of 50 cents per share.
Just like Transocean, Diamond is seeing increasing demand for its drilling rigs. This stock has been in a downtrend lately, and I would wait for an additional drop in these shares before considering an investment. If these shares trade around $65, it's probably a good level to buy at for a long term investment.

This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so consult a licensed professional making any decisions. My resume is real time on Twitter @TurnKeyOil.