Teachers Retirement System of The State of Kentucky cut its stake in Diamond Offshore Drilling, Inc. (NYSE:DO) by 10.5% during the first quarter, Holdings Channel reports. The fund owned 12,260 shares of the offshore drilling services provider’s stock after selling 1,440 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Diamond Offshore Drilling were worth $205,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Paloma Partners Management Co bought a new stake in shares of Diamond Offshore Drilling during the first quarter valued at approximately $1,365,000. Gotham Asset Management LLC bought a new stake in shares of Diamond Offshore Drilling during the first quarter valued at approximately $4,257,000. State Street Corp raised its stake in shares of Diamond Offshore Drilling by 5.7% in the first quarter. State Street Corp now owns 2,373,391 shares of the offshore drilling services provider’s stock valued at $39,657,000 after buying an additional 128,770 shares during the period. Bank of America Corp DE raised its stake in shares of Diamond Offshore Drilling by 17.8% in the first quarter. Bank of America Corp DE now owns 925,362 shares of the offshore drilling services provider’s stock valued at $15,462,000 after buying an additional 139,853 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Diamond Offshore Drilling by 1.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 350,175 shares of the offshore drilling services provider’s stock valued at $5,852,000 after buying an additional 6,313 shares during the period.

Diamond Offshore Drilling, Inc. (NYSE DO) traded up 2.06% during midday trading on Friday, reaching $11.38. 3,068,463 shares of the company’s stock were exchanged. Diamond Offshore Drilling, Inc. has a 12-month low of $10.06 and a 12-month high of $22.65. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 9.25 and a beta of 1.12. The stock’s 50-day moving average is $11.42 and its 200-day moving average is $14.04.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.21. The firm had revenue of $399.30 million for the quarter, compared to the consensus estimate of $381.50 million. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share. On average, equities analysts forecast that Diamond Offshore Drilling, Inc. will post $0.94 earnings per share for the current year.

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Several brokerages have commented on DO. BidaskClub lowered shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a report on Friday. Zephirin Group restated a “sell” rating on shares of Diamond Offshore Drilling in a report on Wednesday, August 2nd. Seaport Global Securities restated a “sell” rating on shares of Diamond Offshore Drilling in a report on Monday, July 31st. Piper Jaffray Companies restated a “hold” rating and issued a $12.50 price objective on shares of Diamond Offshore Drilling in a report on Thursday, August 3rd. Finally, Jefferies Group LLC set a $14.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Saturday, July 1st. Eleven investment 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. Diamond Offshore Drilling has a consensus 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 firm’s stock in a transaction dated Monday, May 22nd. The shares were purchased at an average cost of $13.67 per share, with a total value of $54,680.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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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Institutional Ownership by Quarter for Diamond Offshore Drilling (NYSE:DO)

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