Virtu Financial LLC lowered its stake in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 51.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,901 shares of the offshore drilling services provider’s stock after selling 14,853 shares during the quarter. Virtu Financial LLC’s holdings in Diamond Offshore Drilling were worth $258,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in shares of Diamond Offshore Drilling during the 3rd quarter valued at about $126,000. Wright Investors Service Inc. acquired a new position in shares of Diamond Offshore Drilling during the 4th quarter valued at about $204,000. US Bancorp DE increased its stake in shares of Diamond Offshore Drilling by 77.5% during the 4th quarter. US Bancorp DE now owns 11,957 shares of the offshore drilling services provider’s stock valued at $222,000 after acquiring an additional 5,219 shares during the last quarter. New Mexico Educational Retirement Board acquired a new position in shares of Diamond Offshore Drilling during the 4th quarter valued at about $297,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Diamond Offshore Drilling during the 4th quarter valued at about $334,000.
A number of analysts have recently issued reports on the company. Cowen set a $18.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $17.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Friday, January 12th. Barclays cut Diamond Offshore Drilling from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $19.92 to $13.00 in a report on Tuesday, January 23rd. Jefferies Group cut Diamond Offshore Drilling from a “hold” rating to an “underperform” rating and set a $15.00 target price for the company. in a report on Thursday, January 4th. Finally, TheStreet upgraded Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a report on Monday, January 22nd. Twelve investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $13.96.
NYSE DO traded down $0.28 on Friday, reaching $15.79. The company had a trading volume of 1,494,555 shares, compared to its average volume of 1,614,503. The stock has a market cap of $2,166.83, a PE ratio of 19.26 and a beta of 1.20. Diamond Offshore Drilling Inc has a 1 year low of $10.06 and a 1 year high of $20.41. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.52.
Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $346.20 million during the quarter, compared to analysts’ expectations of $331.98 million. Diamond Offshore Drilling had a return on equity of 2.96% and a net margin of 1.23%. Diamond Offshore Drilling’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. sell-side analysts anticipate that Diamond Offshore Drilling Inc will post -0.28 EPS for the current fiscal year.
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Diamond Offshore Drilling Company Profile
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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