Glacier Peak Capital LLC raised its stake in Diamond Offshore Drilling Inc (NYSE:DO) by 894.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,855 shares of the offshore drilling services provider’s stock after acquiring an additional 178,855 shares during the quarter. Diamond Offshore Drilling comprises approximately 4.3% of Glacier Peak Capital LLC’s investment portfolio, making the stock its 8th biggest holding. Glacier Peak Capital LLC owned approximately 0.14% of Diamond Offshore Drilling worth $3,977,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of DO. Renaissance Technologies LLC acquired a new stake in shares of Diamond Offshore Drilling during the 2nd quarter worth approximately $1,879,000. ING Groep NV acquired a new stake in shares of Diamond Offshore Drilling during the 2nd quarter worth approximately $206,000. We Are One Seven LLC acquired a new stake in shares of Diamond Offshore Drilling during the 3rd quarter worth approximately $267,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Diamond Offshore Drilling during the 2nd quarter worth approximately $392,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Diamond Offshore Drilling during the 2nd quarter worth approximately $275,000.
Several equities research analysts have recently commented on DO shares. Jefferies Financial Group reiterated a “sell” rating and set a $16.00 price target on shares of Diamond Offshore Drilling in a research report on Monday, July 30th. UBS Group set a $26.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Credit Suisse Group lifted their price objective on shares of Diamond Offshore Drilling from $14.00 to $15.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 31st. B. Riley set a $17.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Tuesday, July 31st. Finally, Royal Bank of Canada reissued a “hold” rating and set a $23.00 price objective on shares of Diamond Offshore Drilling in a research note on Tuesday, July 31st. Eleven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.66.
Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, November 5th. The offshore drilling services provider reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.10. The business had revenue of $286.30 million for the quarter, compared to analyst estimates of $281.74 million. Diamond Offshore Drilling had a negative net margin of 11.11% and a negative return on equity of 2.92%. The firm’s revenue for the quarter was down 21.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, analysts predict that Diamond Offshore Drilling Inc will post -1.15 earnings per share for the current fiscal year.
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About Diamond Offshore Drilling
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.
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