Magnetar Financial LLC Takes Position in Diamond Offshore Drilling Inc (DO)
Magnetar Financial LLC bought a new position in Diamond Offshore Drilling Inc (NYSE:DO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 29,735 shares of the offshore drilling services provider’s stock, valued at approximately $431,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Hikari Power Ltd increased its position in shares of Diamond Offshore Drilling by 416.6% in the second quarter. Hikari Power Ltd now owns 567,700 shares of the offshore drilling services provider’s stock worth $6,148,000 after acquiring an additional 457,800 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Diamond Offshore Drilling by 522.1% during the second quarter. BNP Paribas Arbitrage SA now owns 119,776 shares of the offshore drilling services provider’s stock worth $1,297,000 after purchasing an additional 100,521 shares during the period. First Trust Advisors LP boosted its holdings in shares of Diamond Offshore Drilling by 20.7% during the second quarter. First Trust Advisors LP now owns 239,230 shares of the offshore drilling services provider’s stock worth $2,591,000 after purchasing an additional 40,955 shares during the period. Wayne Hummer Investments L.L.C. acquired a new stake in shares of Diamond Offshore Drilling during the second quarter worth approximately $145,000. Finally, Private Management Group Inc. acquired a new stake in shares of Diamond Offshore Drilling during the second quarter worth approximately $3,341,000.
Shares of Diamond Offshore Drilling Inc (NYSE DO) opened at $16.83 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.58 and a quick ratio of 3.58. The stock has a market cap of $2,342.48, a P/E ratio of 9.92 and a beta of 1.29. Diamond Offshore Drilling Inc has a one year low of $10.06 and a one year high of $20.52.
Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The firm had revenue of $366.02 million during the quarter, compared to analysts’ expectations of $365.38 million. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. equities research analysts predict that Diamond Offshore Drilling Inc will post 0.88 EPS for the current fiscal year.
Several research firms recently commented on DO. FBR & Co set a $13.00 price target on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Monday, October 30th. B. Riley restated a “neutral” rating on shares of Diamond Offshore Drilling in a report on Wednesday, November 1st. Jefferies Group set a $15.00 price target on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Monday, October 30th. ValuEngine upgraded shares of Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Finally, UBS raised their price target on shares of Diamond Offshore Drilling from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Eight equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, three 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 a consensus price target of $14.71.
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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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