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Analyst Recommendations for Top 2 Offshore Drillers in 2017

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Analyst recommendations

In this part of the series, we’ll look at Wall Street analysts’ targets for the top two offshore drilling stocks with the best returns YTD (year-to-date). Analysts expect one of these companies to have positive returns in the next 12 months.

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Diamond Offshore Drilling

The consensus analyst rating for Diamond Offshore Drilling (DO) is 3.34, which means a “hold.” About 9% of the analysts have recommended a “buy” or some equivalent as of December 13, 2017. Approximately 56% have recommended a “hold,” and 35% have recommended a “sell” or some equivalent. Analysts’ consensus target price for the company was $13.79 as of December 13. Currently, DO is trading at $16.83, which implies a return of -18.1% in the next 12 months at the current price.

Rowan Companies

The consensus analyst rating for Rowan Companies is 2.7, which means a “hold.” About 33% of the analysts tracking Rowan Companies (RDC) have recommended a “buy” or some equivalent as of December 13, 2017. Approximately 61% have recommended a “hold,” and 6% have recommended a “sell” or some equivalent. Analysts’ consensus target price for Rowan Companies was $15.18 as of December 13. Currently, it’s trading at $14.08, which implies a 7.8% return in the next 12 months at the current price.

In the next part, we’ll look at Wall Street analysts’ recommendations for the next best-performing offshore drilling stocks in 2017—Noble Corporation (NE), Transocean (RIG), and Ensco (ESV).

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