Diamond Offshore Drilling Sees Unusually Large Options Volume (NYSE:DO)

Diamond Offshore Drilling Inc (NYSE:DO) was the recipient of unusually large options trading on Thursday. Traders acquired 8,577 put options on the stock. This represents an increase of approximately 1,832% compared to the typical volume of 444 put options.

In related news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $18.55, for a total value of $27,825.00. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at $18,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.03% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Horseman Capital Management Ltd acquired a new stake in Diamond Offshore Drilling during the 3rd quarter worth about $30,944,000. BlackRock Inc. grew its position in Diamond Offshore Drilling by 22.0% during the 2nd quarter. BlackRock Inc. now owns 9,209,573 shares of the offshore drilling services provider’s stock worth $99,741,000 after purchasing an additional 1,658,687 shares during the period. Majedie Asset Management Ltd grew its position in Diamond Offshore Drilling by 121.9% during the 3rd quarter. Majedie Asset Management Ltd now owns 2,570,583 shares of the offshore drilling services provider’s stock worth $37,273,000 after purchasing an additional 1,412,327 shares during the period. Balyasny Asset Management LLC grew its position in Diamond Offshore Drilling by 3,073.2% during 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 purchasing an additional 1,100,200 shares during the period. Finally, Schroder Investment Management Group grew its position in Diamond Offshore Drilling by 127.6% during the 4th quarter. Schroder Investment Management Group now owns 1,691,100 shares of the offshore drilling services provider’s stock worth $31,437,000 after purchasing an additional 948,200 shares during the period.

Shares of Diamond Offshore Drilling (DO) traded up $0.25 during midday trading on Monday, reaching $15.14. The company’s stock had a trading volume of 5,181,492 shares, compared to its average volume of 1,748,995. Diamond Offshore Drilling has a 1-year low of $10.06 and a 1-year high of $20.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.58 and a quick ratio of 3.58. The company has a market cap of $2,043.32, a PE ratio of 12.41 and a beta of 1.13.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, February 12th. The offshore drilling services provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.14). The business had revenue of $346.20 million for the quarter, compared to analysts’ expectations of $331.98 million. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS. analysts forecast that Diamond Offshore Drilling will post 0.86 EPS for the current year.

Several analysts have issued reports on the company. Jefferies Group reissued a “neutral” rating on shares of Diamond Offshore Drilling in a report on Tuesday, October 31st. Cowen set a $18.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Thursday, January 11th. assumed coverage on Diamond Offshore Drilling in a research report on Thursday, October 19th. They issued a “hold” rating and a $15.80 price objective on the stock. Barclays reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Sunday, November 5th. Finally, B. Riley reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, November 1st. Twelve investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.92.

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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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