July 26, 2016 - 7:13 PM EDT
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Diamond Offshore Drilling Inc. (DO) Dives 1.61% in Morning Session on July 26

Diamond Offshore Drilling Inc. (DO) lost ground during morning trading on July 26 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector halfway through the trading day. At the lunch break, shares of DO have fallen 1.61% to $22.66 after closing the day prior at $23.03. So far, the stock has traded as high as $23.1 and as low as $22.48. Today's decline has come with about 1.22 million shares changing hands, compared to an average 30-day volume of 2.15 million for Diamond Offshore Drilling Inc.. The price is currently below the 30-day volume weighted average price of $22.66 for DO. The share depreciation gives the company a market capitalization of $3.16 billion based upon 137.17 million shares outstanding. It also means that DO has a price-to-book ratio of 0.75:1. In the past 52 weeks, shares of DO have traded as low as $14.175 and as high as $26.72. Technical traders will take note that at $22.66, shares of DO are trading above their 200-day MA at $21.88 and below their 50-day MA at $24.62. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish. Who is DO? Diamond Offshore Drilling Inc is an offshore oil and gas drilling contractor. Its fleet offers a range of services in various markets, including the deep water, harsh environment, conventional semi submersible and jack-up markets. The company’s 3400 employees are led by CEO Marc Gerard Rex Edwards from the corporate headquarters at 15415 Katy Freeway in Houston, TX. For more information on DO and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today. All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information. About FinancialPress.com FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.

Source: Financial Press News (July 26, 2016 - 7:13 PM EDT)

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