The Manufacturers Life Insurance Company lifted its position in Diamond Offshore Drilling, Inc. (NYSE:DO) by 54.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 146,544 shares of the offshore drilling services provider’s stock after acquiring an additional 51,761 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of Diamond Offshore Drilling worth $1,588,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DO. BlackRock Inc. raised its position in shares of Diamond Offshore Drilling by 7,375.1% in the 1st quarter. BlackRock Inc. now owns 7,550,886 shares of the offshore drilling services provider’s stock worth $126,177,000 after acquiring an additional 7,449,872 shares in the last quarter. Contrarius Investment Management Ltd raised its position in shares of Diamond Offshore Drilling by 99.0% in the 2nd quarter. Contrarius Investment Management Ltd now owns 6,606,440 shares of the offshore drilling services provider’s stock worth $71,548,000 after acquiring an additional 3,286,580 shares in the last quarter. Equity Investment Corp Acquisition Inc raised its position in shares of Diamond Offshore Drilling by 76.1% in the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 4,566,588 shares of the offshore drilling services provider’s stock worth $49,456,000 after acquiring an additional 1,973,653 shares in the last quarter. Balyasny Asset Management LLC raised its position in shares of Diamond Offshore Drilling by 3,073.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,136,000 shares of the offshore drilling services provider’s stock worth $12,303,000 after acquiring an additional 1,100,200 shares in the last quarter. Finally, State Street Corp raised its position in shares of Diamond Offshore Drilling by 27.3% in the 2nd quarter. State Street Corp now owns 3,021,468 shares of the offshore drilling services provider’s stock worth $32,721,000 after acquiring an additional 648,077 shares in the last quarter.

Several analysts recently weighed in on DO shares. FBR & Co set a $13.00 price target on Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Monday, October 30th. Jefferies Group LLC set a $15.00 price target on Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Monday, October 30th. UBS AG upped their price target on Diamond Offshore Drilling from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Barclays PLC restated a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Sunday. Finally, Zacks Investment Research downgraded Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Eight investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $14.71.

Diamond Offshore Drilling, Inc. (NYSE DO) opened at $16.71 on Wednesday. The stock has a market capitalization of $2,316.41, a price-to-earnings ratio of 9.81 and a beta of 1.31. Diamond Offshore Drilling, Inc. has a 52 week low of $10.06 and a 52 week high of $22.65. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. The firm had revenue of $366.02 million for the quarter, compared to the consensus estimate of $365.38 million. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. research analysts predict that Diamond Offshore Drilling, Inc. will post 0.9 earnings per share for the current year.

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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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