Diamond Offshore Drilling Inc (DO) Stake Lessened by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP decreased its holdings in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 13.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,085,591 shares of the offshore drilling services provider’s stock after selling 494,796 shares during the period. Dimensional Fund Advisors LP’s holdings in Diamond Offshore Drilling were worth $44,740,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. acquired a new position in Diamond Offshore Drilling in the 3rd quarter valued at $126,000. Raymond James Trust N.A. acquired a new stake in shares of Diamond Offshore Drilling in the 2nd quarter worth $118,000. BlueMountain Capital Management LLC acquired a new stake in shares of Diamond Offshore Drilling in the 2nd quarter worth $119,000. Zacks Investment Management acquired a new stake in shares of Diamond Offshore Drilling in the 2nd quarter worth $124,000. Finally, Shell Asset Management Co. acquired a new stake in shares of Diamond Offshore Drilling in the 3rd quarter worth $415,000.
A number of analysts have issued reports on the company. B. Riley reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, November 1st. Jefferies Group downgraded Diamond Offshore Drilling from a “hold” rating to an “underperform” rating and set a $15.00 target price for the company. in a research note on Thursday, January 4th. ValuEngine raised Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. UBS Group raised Diamond Offshore Drilling from a “neutral” rating to a “buy” rating and raised their target price for the stock from $12.00 to $15.00 in a research note on Monday, September 25th. Finally, Citigroup downgraded Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and set a $12.00 target price for the company. in a research note on Thursday, October 12th. Nine research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.53.
In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $18.55, for a total transaction of $27,825.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.03% of the stock is currently owned by company insiders.
Diamond Offshore Drilling Inc (DO) opened at $19.84 on Tuesday. 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 capitalization of $2,720.00, a PE ratio of 16.40 and a beta of 1.28. Diamond Offshore Drilling Inc has a 52 week low of $10.06 and a 52 week high of $20.23.
Diamond Offshore Drilling (NYSE:DO) last issued its earnings results 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. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The business had revenue of $366.02 million for the quarter, compared to analyst estimates of $365.38 million. During the same quarter last year, the company earned $0.10 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. sell-side analysts expect that Diamond Offshore Drilling Inc will post 0.88 earnings per share for the current fiscal year.
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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