Diamond Offshore Drilling, Inc. (DO) Stake Reduced by Systematic Financial Management LP
Systematic Financial Management LP decreased its stake in Diamond Offshore Drilling, Inc. (NYSE:DO) by 2.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,855 shares of the offshore drilling services provider’s stock after selling 2,785 shares during the period. Systematic Financial Management LP owned approximately 0.07% of Diamond Offshore Drilling worth $1,568,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in DO. Russell Investments Group Ltd. acquired a new stake in Diamond Offshore Drilling during the fourth quarter valued at $1,547,000. State Board of Administration of Florida Retirement System boosted its stake in Diamond Offshore Drilling by 0.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 116,985 shares of the offshore drilling services provider’s stock valued at $2,071,000 after buying an additional 524 shares during the last quarter. Comerica Bank boosted its stake in Diamond Offshore Drilling by 165.0% in the fourth quarter. Comerica Bank now owns 52,838 shares of the offshore drilling services provider’s stock valued at $986,000 after buying an additional 32,901 shares during the last quarter. Trexquant Investment LP acquired a new stake in Diamond Offshore Drilling during the fourth quarter valued at $535,000. Finally, Allianz Asset Management AG boosted its stake in Diamond Offshore Drilling by 1,126.0% in the fourth quarter. Allianz Asset Management AG now owns 503,793 shares of the offshore drilling services provider’s stock valued at $8,917,000 after buying an additional 552,896 shares during the last quarter.
Shares of Diamond Offshore Drilling, Inc. (DO) traded up 1.39% during mid-day trading on Friday, reaching $11.70. The company’s stock had a trading volume of 2,578,514 shares. Diamond Offshore Drilling, Inc. has a 12 month low of $10.71 and a 12 month high of $26.49. The company’s 50-day moving average is $12.93 and its 200 day moving average is $16.08. The firm’s market cap is $1.61 billion.
Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, May 1st. The offshore drilling services provider reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. The business had revenue of $374.22 million for the quarter, compared to analysts’ expectations of $366.03 million. Diamond Offshore Drilling had a negative net margin of 29.01% and a positive return on equity of 4.76%. The business’s revenue was down 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. On average, equities analysts anticipate that Diamond Offshore Drilling, Inc. will post $0.82 EPS for the current year.
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DO has been the subject of several recent analyst reports. Raymond James Financial, Inc. restated a “hold” rating on shares of Diamond Offshore Drilling in a research note on Thursday, March 16th. BMO Capital Markets set a $15.00 price target on Diamond Offshore Drilling and gave the company a “sell” rating in a research note on Thursday, March 16th. Scotiabank reiterated a “hold” rating and issued a $19.00 price target on shares of Diamond Offshore Drilling in a research note on Wednesday, March 22nd. Tudor Pickering began coverage on Diamond Offshore Drilling in a research note on Thursday, March 23rd. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded Diamond Offshore Drilling from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Tuesday, April 11th. Nine analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Diamond Offshore Drilling currently has a consensus rating of “Hold” and a consensus target price of $17.46.
In other Diamond Offshore Drilling news, Director Paul G. Gaffney acquired 4,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were acquired at an average price of $13.67 per share, for a total transaction of $54,680.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.03% of the stock is currently owned by corporate insiders.
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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