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.

Several institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC boosted its position in Diamond Offshore Drilling by 5,817.6% during the 2nd quarter. Advisory Services Network LLC now owns 7,752 shares of the offshore drilling services provider’s stock valued at $69,000 after purchasing an additional 7,621 shares during the period. CIBC World Markets Inc. boosted its position in Diamond Offshore Drilling by 10.0% during the 1st quarter. CIBC World Markets Inc. now owns 26,560 shares of the offshore drilling services provider’s stock valued at $279,000 after purchasing an additional 2,404 shares during the period. First Trust Advisors LP boosted its position in Diamond Offshore Drilling by 1.9% during the 2nd quarter. First Trust Advisors LP now owns 137,291 shares of the offshore drilling services provider’s stock valued at $1,218,000 after purchasing an additional 2,536 shares during the period. Van ECK Associates Corp boosted its position in Diamond Offshore Drilling by 48.4% during the 2nd quarter. Van ECK Associates Corp now owns 1,476,851 shares of the offshore drilling services provider’s stock valued at $13,100,000 after purchasing an additional 481,475 shares during the period. Finally, Raymond James & Associates boosted its position in Diamond Offshore Drilling by 22.1% during the 1st quarter. Raymond James & Associates now owns 221,705 shares of the offshore drilling services provider’s stock valued at $2,326,000 after purchasing an additional 40,150 shares during the period.

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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