Foundation Resource Management Inc. lifted its stake in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 226,733 shares of the offshore drilling services provider’s stock after buying an additional 13,440 shares during the period. Foundation Resource Management Inc. owned approximately 0.16% of Diamond Offshore Drilling worth $2,378,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in shares of Diamond Offshore Drilling during the first quarter worth $228,000. Triad Investment Management raised its holdings in shares of Diamond Offshore Drilling by 18.2% during the first quarter. Triad Investment Management now owns 260,843 shares of the offshore drilling services provider’s stock worth $2,736,000 after purchasing an additional 40,139 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Diamond Offshore Drilling by 114.1% during the fourth quarter. Deutsche Bank AG now owns 353,241 shares of the offshore drilling services provider’s stock worth $3,333,000 after purchasing an additional 188,251 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Diamond Offshore Drilling during the fourth quarter worth $1,286,000. Finally, Geode Capital Management LLC increased its holdings in Diamond Offshore Drilling by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 682,114 shares of the offshore drilling services provider’s stock valued at $6,439,000 after buying an additional 27,144 shares in the last quarter.
A number of research firms have weighed in on DO. Pareto Securities raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a report on Monday, January 28th. Zacks Investment Research cut shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a report on Friday, January 25th. DNB Markets raised shares of Diamond Offshore Drilling from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. ValuEngine cut shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Finally, Fearnley Fonds raised shares of Diamond Offshore Drilling from an “accumulate” rating to a “buy” rating in a report on Monday, February 4th. Eight equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $15.56.
Shares of NYSE DO traded down $0.16 during trading on Thursday, hitting $11.44. The company had a trading volume of 64,520 shares, compared to its average volume of 3,249,680. Diamond Offshore Drilling Inc has a fifty-two week low of $8.78 and a fifty-two week high of $21.92. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -9.79 and a beta of 1.62. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.55.
Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Monday, February 11th. The offshore drilling services provider reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.02). Diamond Offshore Drilling had a negative net margin of 16.64% and a negative return on equity of 4.32%. The company had revenue of $232.50 million during the quarter, compared to analyst estimates of $249.89 million. During the same quarter last year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. Equities research analysts anticipate that Diamond Offshore Drilling Inc will post -2.32 EPS for the current fiscal year.
Diamond Offshore Drilling Company Profile
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.
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