Marshall Wace North America L.P. lowered its position in Diamond Offshore Drilling, Inc. (NYSE:DO) by 74.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 325,914 shares of the offshore drilling services provider’s stock after selling 934,746 shares during the period. Marshall Wace North America L.P. owned about 0.24% of Diamond Offshore Drilling worth $3,585,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its stake in shares of Diamond Offshore Drilling by 10.2% in the first quarter. Lazard Asset Management LLC now owns 6,685 shares of the offshore drilling services provider’s stock valued at $111,000 after buying an additional 620 shares during the period. Advantus Capital Management Inc increased its stake in shares of Diamond Offshore Drilling by 3.0% in the first quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock valued at $138,000 after buying an additional 242 shares during the period. Segantii Capital Management Ltd acquired a new stake in shares of Diamond Offshore Drilling during the first quarter valued at about $140,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Diamond Offshore Drilling during the first quarter valued at about $169,000. Finally, Amalgamated Bank acquired a new stake in shares of Diamond Offshore Drilling during the first quarter valued at about $170,000.

Diamond Offshore Drilling, Inc. (DO) opened at 12.07 on Friday. Diamond Offshore Drilling, Inc. has a 12 month low of $10.06 and a 12 month high of $22.65. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 9.81 and a beta of 1.13. The company’s 50-day moving average is $11.53 and its 200 day moving average is $13.40.

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, topping the consensus estimate of $0.24 by $0.21. The business had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $381.50 million. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. On average, equities research analysts predict that Diamond Offshore Drilling, Inc. will post $0.93 earnings per share for the current year.

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Several analysts have issued reports on DO shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $12.00 price target (down previously from $14.00) on shares of Diamond Offshore Drilling in a report on Tuesday, July 18th. BidaskClub raised shares of Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Bank of America Corporation downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $12.00 in a report on Friday, June 30th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $12.50 price target on shares of Diamond Offshore Drilling in a report on Thursday, August 3rd. Finally, Zephirin Group reaffirmed a “sell” rating on shares of Diamond Offshore Drilling in a report on Wednesday, August 2nd. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $15.58.

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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