Schroder Investment Management Group trimmed its position in Diamond Offshore Drilling Inc (NYSE:DO) by 7.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,254,100 shares of the offshore drilling services provider’s stock after selling 95,000 shares during the period. Schroder Investment Management Group owned 0.91% of Diamond Offshore Drilling worth $25,947,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in DO. FMR LLC lifted its stake in shares of Diamond Offshore Drilling by 61.9% in the 2nd quarter. FMR LLC now owns 5,461,129 shares of the offshore drilling services provider’s stock valued at $113,919,000 after acquiring an additional 2,088,000 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Diamond Offshore Drilling by 153.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,676,934 shares of the offshore drilling services provider’s stock valued at $34,980,000 after acquiring an additional 1,014,887 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Diamond Offshore Drilling by 150.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,293,254 shares of the offshore drilling services provider’s stock valued at $26,978,000 after acquiring an additional 775,908 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Diamond Offshore Drilling by 37.9% in the 1st quarter. Northern Trust Corp now owns 1,810,868 shares of the offshore drilling services provider’s stock valued at $26,548,000 after acquiring an additional 497,490 shares during the last quarter. Finally, Dorsey Wright & Associates bought a new position in shares of Diamond Offshore Drilling in the 2nd quarter valued at $3,454,000.
Shares of NYSE:DO opened at $19.41 on Friday. The firm has a market cap of $2.75 billion, a P/E ratio of 23.40 and a beta of 1.11. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.23 and a quick ratio of 4.23. Diamond Offshore Drilling Inc has a 12-month low of $13.64 and a 12-month high of $21.92.
Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Monday, July 30th. The offshore drilling services provider reported ($0.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.06. The business had revenue of $268.90 million during the quarter, compared to analyst estimates of $279.83 million. Diamond Offshore Drilling had a negative return on equity of 1.06% and a negative net margin of 5.57%. Diamond Offshore Drilling’s revenue for the quarter was down 32.7% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. Analysts expect that Diamond Offshore Drilling Inc will post -1.13 earnings per share for the current fiscal year.
In other Diamond Offshore Drilling news, SVP David L. Roland sold 1,744 shares of the stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $19.73, for a total transaction of $34,409.12. Following the completion of the sale, the senior vice president now directly owns 9,194 shares in the company, valued at approximately $181,397.62. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.03% of the stock is owned by company insiders.
DO has been the subject of a number of research reports. UBS Group set a $26.00 price target on Diamond Offshore Drilling and gave the company a “buy” rating in a research note on Tuesday, July 31st. HSBC upgraded Diamond Offshore Drilling from a “hold” rating to a “buy” rating and increased their price target for the company from $18.80 to $20.80 in a research note on Friday, September 21st. Credit Suisse Group increased their price target on Diamond Offshore Drilling from $14.00 to $15.00 and gave the company an “underperform” rating in a research note on Tuesday, July 31st. Royal Bank of Canada upgraded Diamond Offshore Drilling from a “sector perform” rating to an “outperform” rating and set a $23.00 price target for the company in a research note on Thursday, September 20th. Finally, Morgan Stanley initiated coverage on Diamond Offshore Drilling in a research note on Tuesday, September 18th. They issued an “underweight” rating and a $15.00 price target for the company. Ten equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.60.
Diamond Offshore Drilling Company Profile
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.
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