Diamond Offshore Drilling (DO) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in shares of Diamond Offshore Drilling (NYSE:DO) by 49.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 317,905 shares of the offshore drilling services provider’s stock after selling 305,798 shares during the period. American Century Companies Inc.’s holdings in Diamond Offshore Drilling were worth $4,660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DO. Contrarius Investment Management Ltd raised its position in shares of Diamond Offshore Drilling by 65.3% during the 1st quarter. Contrarius Investment Management Ltd now owns 9,629,654 shares of the offshore drilling services provider’s stock worth $141,171,000 after purchasing an additional 3,802,402 shares during the last quarter. Schroder Investment Management Group raised its position in shares of 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 last quarter. Gotham Asset Management LLC raised its position in shares of Diamond Offshore Drilling by 1,401.7% during the 4th quarter. Gotham Asset Management LLC now owns 540,731 shares of the offshore drilling services provider’s stock worth $10,052,000 after purchasing an additional 504,723 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of Diamond Offshore Drilling during the 4th quarter worth about $7,814,000. Finally, Orbis Allan Gray Ltd acquired a new position in shares of Diamond Offshore Drilling during the 4th quarter worth about $7,542,000.

In other news, insider Marc Gerard Rex Edwards sold 78,265 shares of the stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $19.95, for a total value of $1,561,386.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Diamond Offshore Drilling opened at $17.74 on Friday, MarketBeat.com reports. Diamond Offshore Drilling has a 1-year low of $10.06 and a 1-year high of $20.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.51 and a quick ratio of 4.51. The company has a market capitalization of $2.64 billion, a PE ratio of 21.63 and a beta of 1.16.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Monday, April 30th. The offshore drilling services provider reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. Diamond Offshore Drilling had a net margin of 1.00% and a return on equity of 1.78%. The business had revenue of $295.50 million during the quarter, compared to analysts’ expectations of $295.89 million. During the same quarter in the prior year, the company posted $0.17 EPS. The business’s revenue for the quarter was down 21.0% on a year-over-year basis. equities analysts forecast that Diamond Offshore Drilling will post -0.53 earnings per share for the current fiscal year.

Several research analysts recently weighed in on DO shares. Piper Jaffray Companies set a $9.00 price target on shares of Diamond Offshore Drilling and gave the stock a “sell” rating in a research report on Monday, February 12th. Jefferies Group reaffirmed a “sell” rating and set a $14.00 price objective on shares of Diamond Offshore Drilling in a research note on Wednesday, February 7th. TheStreet raised shares of Diamond Offshore Drilling from a “d” rating to a “c-” rating in a research note on Monday, April 30th. Citigroup set a $12.00 price objective on shares of Diamond Offshore Drilling and gave the company a “sell” rating in a research note on Tuesday, February 13th. Finally, Royal Bank of Canada set a $17.00 price objective on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Monday, February 12th. Twelve research analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.93.

About Diamond Offshore Drilling

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.

Want to see what other hedge funds are holding DO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamond Offshore Drilling (NYSE:DO).

Institutional Ownership by Quarter for Diamond Offshore Drilling (NYSE:DO)

Receive News & Ratings for Diamond Offshore Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply