Replies to post #24 on Diamond Offshore Drilling Inc (DO)

[OilStockReport]

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.