UBS Asset Management Americas Inc. grew its position in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,589 shares of the offshore drilling services provider’s stock after purchasing an additional 6,196 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.06% of Diamond Offshore Drilling worth $1,517,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Commonwealth Bank of Australia grew its holdings in shares of Diamond Offshore Drilling by 6.0% during the third quarter. Commonwealth Bank of Australia now owns 185,541 shares of the offshore drilling services provider’s stock worth $2,687,000 after purchasing an additional 10,500 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Diamond Offshore Drilling by 959.8% during the third quarter. Point72 Asset Management L.P. now owns 625,300 shares of the offshore drilling services provider’s stock worth $9,067,000 after buying an additional 566,300 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Diamond Offshore Drilling by 104.8% during the fourth quarter. American Century Companies Inc. now owns 623,703 shares of the offshore drilling services provider’s stock worth $11,595,000 after buying an additional 319,119 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Diamond Offshore Drilling by 90.4% during the third quarter. Schroder Investment Management Group now owns 742,900 shares of the offshore drilling services provider’s stock worth $10,631,000 after buying an additional 352,700 shares during the last quarter. Finally, OxFORD Asset Management LLP purchased a new position in shares of Diamond Offshore Drilling during the third quarter worth about $2,973,000.
In other news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $18.55, for a total transaction of $27,825.00. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at approximately $18,550. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.03% of the stock is currently owned by company insiders.
Shares of Diamond Offshore Drilling stock opened at $16.13 on Thursday. Diamond Offshore Drilling Inc has a twelve month low of $10.06 and a twelve month high of $20.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.97 and a quick ratio of 3.97. The firm has a market capitalization of $2,040.58, a P/E ratio of 18.13 and a beta of 1.25.
Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. Diamond Offshore Drilling had a net margin of 1.23% and a return on equity of 2.96%. The company had revenue of $346.20 million during the quarter, compared to the consensus estimate of $331.98 million. During the same period last year, the firm earned $0.27 EPS. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. equities research analysts forecast that Diamond Offshore Drilling Inc will post -0.29 earnings per share for the current fiscal year.
A number of research firms recently issued reports on DO. Cowen set a $18.00 price target on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $17.00 price target on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Friday, January 12th. Barclays lowered Diamond Offshore Drilling from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $19.92 to $13.00 in a report on Tuesday, January 23rd. Jefferies Group lowered Diamond Offshore Drilling from a “hold” rating to an “underperform” rating and set a $15.00 price target on the stock. in a report on Thursday, January 4th. Finally, TheStreet raised Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Twelve analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $14.23.
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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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