Insider Selling: Diamond Offshore Drilling Inc (NYSE:DO) CFO Sells 5,819 Shares of Stock
Diamond Offshore Drilling Inc (NYSE:DO) CFO Scott Lee Kornblau sold 5,819 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.69, for a total value of $50,567.11. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of DO opened at $7.47 on Friday. The stock has a 50 day moving average of $6.70 and a 200-day moving average of $8.80. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.58. Diamond Offshore Drilling Inc has a 52 week low of $5.25 and a 52 week high of $20.85.
Diamond Offshore Drilling (NYSE:DO) last issued its earnings results on Monday, August 5th. The offshore drilling services provider reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The firm had revenue of $216.70 million during the quarter, compared to analyst estimates of $228.46 million. Diamond Offshore Drilling had a negative return on equity of 8.55% and a negative net margin of 32.78%. Diamond Offshore Drilling’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.33) EPS. Analysts expect that Diamond Offshore Drilling Inc will post -2.78 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on DO shares. HSBC set a $11.00 price objective on Diamond Offshore Drilling and gave the company a “buy” rating in a research note on Monday, July 15th. Citigroup set a $5.00 price objective on Diamond Offshore Drilling and gave the company a “sell” rating in a research note on Friday, June 14th. Bank of America lowered their price objective on Diamond Offshore Drilling from $5.00 to $3.50 and set an “underperform” rating for the company in a research note on Wednesday, August 28th. SEB Equities upgraded Diamond Offshore Drilling from a “sell” rating to a “hold” rating and lowered their price objective for the company from $10.00 to $7.70 in a research note on Tuesday, June 18th. Finally, UBS Group set a $11.00 price objective on Diamond Offshore Drilling and gave the company a “buy” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $11.38.
About Diamond Offshore Drilling
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.
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