Great West Life Assurance Co. Can increased its stake in Diamond Offshore Drilling, Inc. (NYSE:DO) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,052,661 shares of the offshore drilling services provider’s stock after buying an additional 23,790 shares during the period. Great West Life Assurance Co. Can owned approximately 0.77% of Diamond Offshore Drilling worth $11,378,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DO. State Treasurer State of Michigan increased its stake in Diamond Offshore Drilling by 1.5% in the second quarter. State Treasurer State of Michigan now owns 26,600 shares of the offshore drilling services provider’s stock valued at $288,000 after buying an additional 400 shares during the last quarter. Aperio Group LLC increased its stake in Diamond Offshore Drilling by 97.6% in the second quarter. Aperio Group LLC now owns 80,363 shares of the offshore drilling services provider’s stock valued at $870,000 after buying an additional 39,690 shares during the last quarter. Beech Hill Advisors Inc. increased its stake in Diamond Offshore Drilling by 7.6% in the second quarter. Beech Hill Advisors Inc. now owns 14,225 shares of the offshore drilling services provider’s stock valued at $154,000 after buying an additional 1,000 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Diamond Offshore Drilling by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the offshore drilling services provider’s stock valued at $182,000 after buying an additional 500 shares during the last quarter. Finally, Foundation Resource Management Inc. increased its stake in Diamond Offshore Drilling by 1.8% in the second quarter. Foundation Resource Management Inc. now owns 208,731 shares of the offshore drilling services provider’s stock valued at $2,261,000 after buying an additional 3,685 shares during the last quarter.

Diamond Offshore Drilling, Inc. (NYSE:DO) opened at 11.98 on Wednesday. The company has a 50-day moving average price of $11.33 and a 200-day moving average price of $14.27. The company has a market capitalization of $1.64 billion, a PE ratio of 9.74 and a beta of 1.12. Diamond Offshore Drilling, Inc. has a one year low of $10.06 and a one year high of $22.65.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.24 by $0.21. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The company had revenue of $399.30 million for the quarter, compared to analyst estimates of $381.50 million. During the same period in the prior year, the company earned $0.16 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Analysts expect that Diamond Offshore Drilling, Inc. will post $0.93 earnings per share for the current fiscal year.

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Several research firms recently weighed in on DO. Piper Jaffray Companies restated a “hold” rating and issued a $12.50 price target on shares of Diamond Offshore Drilling in a research note on Thursday, August 3rd. Seaport Global Securities restated a “sell” rating on shares of Diamond Offshore Drilling in a research note on Monday, July 31st. Zephirin Group restated a “sell” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and issued a $12.00 price target (down previously from $14.00) on shares of Diamond Offshore Drilling in a research note on Tuesday, July 18th. Finally, BidaskClub upgraded Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Eleven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.91.

In other Diamond Offshore Drilling news, Director Paul G. Gaffney purchased 4,000 shares of the stock in a transaction on Monday, May 22nd. The shares were bought at an average cost of $13.67 per share, with a total value of $54,680.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.03% of the stock is currently owned by corporate 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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Institutional Ownership by Quarter for Diamond Offshore Drilling (NYSE:DO)

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