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3 Stocks Dragging In The Basic Materials Sector

2. As of noon trading, Diamond Offshore Drilling (DO) is down $1.74 (-3.7%) to $45.57 on heavy volume. Thus far, 1.6 million shares of Diamond Offshore Drilling exchanged hands as compared to its average daily volume of 1.4 million shares. The stock has ranged in price between $45.52-$47.22 after having opened the day at $47.06 as compared to the previous trading day's close of $47.31.

Diamond Offshore Drilling, Inc. operates as an offshore oil and gas drilling contractor worldwide. It provides offshore drilling services in both the floater market, such as ultra-deepwater, deepwater, and mid-water; and in the non-floater and jack-up markets. Diamond Offshore Drilling has a market cap of $6.5 billion and is part of the energy industry. Shares are down 16.9% year-to-date as of the close of trading on Thursday. Currently there are 2 analysts that rate Diamond Offshore Drilling a buy, 6 analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Diamond Offshore Drilling as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. Get the full Diamond Offshore Drilling Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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