NJ State Employees Deferred Compensation Plan decreased its holdings in Diamond Offshore Drilling Inc (NYSE:DO) by 16.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 15,000 shares of the offshore drilling services provider’s stock after selling 3,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Diamond Offshore Drilling were worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in shares of Diamond Offshore Drilling during the second quarter valued at approximately $108,000. Contravisory Investment Management Inc. purchased a new stake in shares of Diamond Offshore Drilling during the third quarter valued at approximately $144,000. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Diamond Offshore Drilling by 56.2% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 13,197 shares of the offshore drilling services provider’s stock valued at $193,000 after purchasing an additional 4,750 shares during the period. ING Groep NV purchased a new stake in shares of Diamond Offshore Drilling during the second quarter valued at approximately $206,000. Finally, V Wealth Management LLC purchased a new stake in shares of Diamond Offshore Drilling during the second quarter valued at approximately $238,000.

DO has been the subject of a number of recent analyst reports. UBS Group set a $26.00 price target on shares of Diamond Offshore Drilling and gave the stock a “buy” rating in a research report on Tuesday, July 31st. HSBC raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating and raised their price target for the stock from $18.80 to $20.80 in a research report on Friday, September 21st. Credit Suisse Group raised their price target on shares of Diamond Offshore Drilling from $14.00 to $15.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 31st. Royal Bank of Canada raised shares of Diamond Offshore Drilling from a “sector perform” rating to an “outperform” rating and set a $23.00 price target for the company in a research report on Thursday, September 20th. Finally, Morgan Stanley initiated coverage on shares of Diamond Offshore Drilling in a research report on Tuesday, September 18th. They set an “underweight” rating and a $15.00 price target for the company. Eleven investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Diamond Offshore Drilling presently has an average rating of “Hold” and an average target price of $16.37.

Diamond Offshore Drilling stock opened at $17.67 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.23 and a quick ratio of 4.23. Diamond Offshore Drilling Inc has a 12 month low of $13.64 and a 12 month high of $21.92.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, July 30th. The offshore drilling services provider reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.06. The firm had revenue of $268.90 million during the quarter, compared to the consensus estimate of $279.83 million. Diamond Offshore Drilling had a negative net margin of 5.57% and a negative return on equity of 1.06%. The firm’s revenue was down 32.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. Equities research analysts predict that Diamond Offshore Drilling Inc will post -1.22 EPS for the current fiscal year.

In other Diamond Offshore Drilling news, SVP David L. Roland sold 1,744 shares of Diamond Offshore Drilling stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $19.73, for a total value of $34,409.12. Following the completion of the transaction, the senior vice president now owns 9,194 shares of the company’s stock, valued at $181,397.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.

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Institutional Ownership by Quarter for Diamond Offshore Drilling (NYSE:DO)

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