BNP Paribas Arbitrage SA lessened its holdings in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 51.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,426 shares of the offshore drilling services provider’s stock after selling 53,616 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Diamond Offshore Drilling were worth $754,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in DO. Contrarius Investment Management Ltd grew its stake in shares of Diamond Offshore Drilling by 65.3% in the 1st quarter. Contrarius Investment Management Ltd now owns 9,629,654 shares of the offshore drilling services provider’s stock valued at $141,171,000 after buying an additional 3,802,402 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Diamond Offshore Drilling by 127.6% in the 4th quarter. Schroder Investment Management Group now owns 1,691,100 shares of the offshore drilling services provider’s stock worth $31,437,000 after purchasing an additional 948,200 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in Diamond Offshore Drilling by 1,401.7% in the 4th quarter. Gotham Asset Management LLC now owns 540,731 shares of the offshore drilling services provider’s stock worth $10,052,000 after purchasing an additional 504,723 shares during the last quarter. Northern Trust Corp lifted its holdings in Diamond Offshore Drilling by 37.9% in the 1st quarter. Northern Trust Corp now owns 1,810,868 shares of the offshore drilling services provider’s stock worth $26,548,000 after purchasing an additional 497,490 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in Diamond Offshore Drilling in the 4th quarter worth approximately $7,814,000.
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DO has been the subject of several analyst reports. ValuEngine lowered Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Cowen restated a “hold” rating and issued a $13.00 target price on shares of Diamond Offshore Drilling in a report on Thursday, March 15th. Credit Suisse Group restated an “underperform” rating on shares of Diamond Offshore Drilling in a report on Friday, April 13th. Susquehanna Bancshares set a $16.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Friday, April 13th. Finally, Bank of America reduced their target price on Diamond Offshore Drilling from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, April 18th. Twelve analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $13.93.
Shares of Diamond Offshore Drilling opened at $17.99 on Wednesday, Marketbeat Ratings reports. Diamond Offshore Drilling Inc has a 12 month low of $10.06 and a 12 month high of $20.98. The company has a market cap of $2.54 billion, a PE ratio of 37.78 and a beta of 1.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.51 and a quick ratio of 4.51.
Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings results on Monday, April 30th. The offshore drilling services provider reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. Diamond Offshore Drilling had a return on equity of 1.78% and a net margin of 1.00%. The company had revenue of $295.50 million during the quarter, compared to analyst estimates of $295.89 million. During the same period in the previous year, the company earned $0.17 earnings per share. The company’s quarterly revenue was down 21.0% compared to the same quarter last year. equities analysts anticipate that Diamond Offshore Drilling Inc will post -0.64 earnings per share for the current fiscal year.
In other news, insider Marc Gerard Rex Edwards sold 32,718 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $18.20, for a total transaction of $595,467.60. Following the completion of the transaction, the insider now directly owns 78,265 shares in the company, valued at $1,424,423. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.03% of the stock is owned by insiders.
Diamond Offshore Drilling Company Profile
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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