Wells Fargo & Company MN reduced its position in Diamond Offshore Drilling Inc (NYSE:DO) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 552,793 shares of the offshore drilling services provider’s stock after selling 26,607 shares during the period. Wells Fargo & Company MN owned approximately 0.40% of Diamond Offshore Drilling worth $8,015,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Diamond Offshore Drilling by 22.0% in the 2nd quarter. BlackRock Inc. now owns 9,209,573 shares of the offshore drilling services provider’s stock valued at $99,741,000 after purchasing an additional 1,658,687 shares in the last quarter. Contrarius Investment Management Ltd raised its stake in shares of Diamond Offshore Drilling by 13.7% in the 3rd quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock valued at $108,925,000 after purchasing an additional 905,595 shares in the last quarter. State Street Corp raised its stake in shares of Diamond Offshore Drilling by 27.3% in the 2nd quarter. State Street Corp now owns 3,021,468 shares of the offshore drilling services provider’s stock valued at $32,721,000 after purchasing an additional 648,077 shares in the last quarter. Majedie Asset Management Ltd raised its stake in shares of Diamond Offshore Drilling by 121.9% in the 3rd quarter. Majedie Asset Management Ltd now owns 2,570,583 shares of the offshore drilling services provider’s stock valued at $37,273,000 after purchasing an additional 1,412,327 shares in the last quarter. Finally, Horseman Capital Management Ltd acquired a new stake in shares of Diamond Offshore Drilling in the 3rd quarter valued at about $30,944,000.

DO has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Clarkson Capital upgraded shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank initiated coverage on shares of Diamond Offshore Drilling in a research note on Tuesday, October 10th. They issued a “hold” rating and a $15.00 target price on the stock. Royal Bank of Canada set a $15.00 target price on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Saturday, October 7th. Finally, Zacks Investment Research lowered shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $14.53.

Shares of Diamond Offshore Drilling Inc (NYSE DO) opened at $18.59 on Friday. The firm has a market cap of $2,567.53, a PE ratio of 15.24 and a beta of 1.29. Diamond Offshore Drilling Inc has a 12 month low of $10.06 and a 12 month high of $19.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.58.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $366.02 million for the quarter, compared to analyst estimates of $365.38 million. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. Diamond Offshore Drilling’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. analysts expect that Diamond Offshore Drilling Inc will post 0.88 EPS for the current year.

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Diamond Offshore Drilling 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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