Diamond Offshore Drilling, Inc. (DO) Shares Sold by State of Wisconsin Investment Board
State of Wisconsin Investment Board cut its position in shares of Diamond Offshore Drilling, Inc. (NYSE:DO) by 63.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,618 shares of the offshore drilling services provider’s stock after selling 22,093 shares during the period. State of Wisconsin Investment Board’s holdings in Diamond Offshore Drilling were worth $211,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Texas Yale Capital Corp. acquired a new position in shares of Diamond Offshore Drilling during the fourth quarter worth about $177,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Diamond Offshore Drilling during the first quarter worth about $169,000. Suntrust Banks Inc. raised its position in shares of Diamond Offshore Drilling by 7.0% in the first quarter. Suntrust Banks Inc. now owns 12,091 shares of the offshore drilling services provider’s stock worth $201,000 after buying an additional 787 shares during the last quarter. Virginia Retirement Systems ET AL raised its position in shares of Diamond Offshore Drilling by 15.3% in the first quarter. Virginia Retirement Systems ET AL now owns 12,682 shares of the offshore drilling services provider’s stock worth $212,000 after buying an additional 1,682 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new position in shares of Diamond Offshore Drilling during the first quarter worth about $216,000.
Diamond Offshore Drilling, Inc. (NYSE DO) opened at 11.49 on Tuesday. The stock’s market cap is $1.58 billion. The firm has a 50-day moving average of $12.84 and a 200-day moving average of $16.01. Diamond Offshore Drilling, Inc. has a 1-year low of $10.70 and a 1-year high of $26.49.
Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, May 1st. The offshore drilling services provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.12 by $0.05. The company had revenue of $374.22 million during the quarter, compared to analyst estimates of $366.03 million. Diamond Offshore Drilling had a negative net margin of 29.01% and a positive return on equity of 4.76%. Diamond Offshore Drilling’s quarterly revenue was down 20.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. Analysts expect that Diamond Offshore Drilling, Inc. will post $0.82 EPS for the current fiscal year.
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A number of brokerages have issued reports on DO. BidaskClub upgraded shares of Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Jefferies Group LLC cut their price target on shares of Diamond Offshore Drilling from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, May 2nd. Scotiabank reaffirmed a “hold” rating and set a $19.00 price target on shares of Diamond Offshore Drilling in a report on Wednesday, March 22nd. Raymond James Financial, Inc. reaffirmed a “hold” rating on shares of Diamond Offshore Drilling in a report on Thursday, March 16th. Finally, BMO Capital Markets set a $15.00 price target on shares of Diamond Offshore Drilling and gave the stock a “sell” rating in a report on Thursday, March 16th. Nine analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Diamond Offshore Drilling currently has a consensus rating of “Hold” and a consensus price target of $17.46.
In other Diamond Offshore Drilling news, Director Paul G. Gaffney bought 4,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was acquired at an average cost of $13.67 per share, for a total transaction of $54,680.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is currently owned by company insiders.
About Diamond Offshore Drilling
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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