Tim Seymour Sees Some Potential In Diamond Offshore Drilling (DO)

On CNBC's Fast Money, Tim Seymour gave his opinion about deepwater oil drilling moratorium plays. He believes that Diamond Offshore Drilling, Inc. DO should be bought, because it has a great flexibility and it is able to cut some contracts and move elsewhere. Diamond Offshore Drilling, Inc. (DO) has 65% of its business outside of U.S., and it has an attractive valuation. It trades on six times earnings multiple, said Tim Seymour, and it typically trades at 18. Diamond Offshore Drilling, Inc. DO gained 1.93% and closed at $65.33. It had a volume of 2.53M shares today.