Public Employees Retirement Association of Colorado cut its position in shares of Diamond Offshore Drilling, Inc. (NYSE:DO) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,132 shares of the offshore drilling services provider’s stock after selling 642 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Diamond Offshore Drilling were worth $236,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Diamond Offshore Drilling during the fourth quarter worth about $1,547,000. State Board of Administration of Florida Retirement System increased its position in shares of Diamond Offshore Drilling by 0.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 116,985 shares of the offshore drilling services provider’s stock worth $2,071,000 after buying an additional 524 shares during the period. Comerica Bank increased its position in shares of Diamond Offshore Drilling by 165.0% in the fourth quarter. Comerica Bank now owns 52,838 shares of the offshore drilling services provider’s stock worth $986,000 after buying an additional 32,901 shares during the period. Trexquant Investment LP acquired a new position in shares of Diamond Offshore Drilling during the fourth quarter worth $535,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Diamond Offshore Drilling during the fourth quarter worth $673,000.
Diamond Offshore Drilling, Inc. (NYSE DO) opened at 11.70 on Friday. The firm’s market capitalization is $1.61 billion. Diamond Offshore Drilling, Inc. has a one year low of $10.70 and a one year high of $26.49. The stock’s 50 day moving average is $12.93 and its 200 day moving average is $16.08.
Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, May 1st. The offshore drilling services provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. Diamond Offshore Drilling had a negative net margin of 29.01% and a positive return on equity of 4.76%. The company had revenue of $374.22 million during the quarter, compared to the consensus estimate of $366.03 million. During the same period in the previous year, the firm posted $0.64 EPS. The firm’s revenue was down 20.5% compared to the same quarter last year. On average, equities research analysts predict that Diamond Offshore Drilling, Inc. will post $0.82 earnings per share for the current fiscal year.
A number of brokerages have weighed in on DO. BidaskClub raised Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Barclays PLC reissued an “equal weight” rating and set a $15.00 price target (down previously from $19.00) on shares of Diamond Offshore Drilling in a research report on Monday, May 1st. Jefferies Group LLC lowered their price target on Diamond Offshore Drilling from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, May 2nd. Scotiabank reissued a “hold” rating and set a $19.00 price target on shares of Diamond Offshore Drilling in a research report on Wednesday, March 22nd. Finally, Tudor Pickering began coverage on Diamond Offshore Drilling in a research report on Thursday, March 23rd. They set a “hold” rating on the stock. Nine equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $17.46.
In related news, Director Paul G. Gaffney acquired 4,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was bought at an average cost of $13.67 per share, with a total value of $54,680.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.03% of the company’s stock.
Diamond Offshore Drilling Company Profile
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig. Its fleet enables it to offer a range of services, primarily in the floater market, including ultra-deepwater, deepwater and mid-water.
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