Glacier Peak Capital LLC acquired a new position in Diamond Offshore Drilling Inc (NYSE:DO) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 75,000 shares of the offshore drilling services provider’s stock, valued at approximately $1,100,000. Glacier Peak Capital LLC owned approximately 0.05% of Diamond Offshore Drilling at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Guggenheim Capital LLC boosted its stake in Diamond Offshore Drilling by 1.3% during the 1st quarter. Guggenheim Capital LLC now owns 215,139 shares of the offshore drilling services provider’s stock valued at $3,153,000 after purchasing an additional 2,751 shares in the last quarter. Element Capital Management LLC bought a new position in Diamond Offshore Drilling during the 1st quarter valued at $247,000. Natixis bought a new position in Diamond Offshore Drilling during the 1st quarter valued at $797,000. Northwestern Mutual Investment Management Company LLC boosted its stake in Diamond Offshore Drilling by 56.2% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 13,197 shares of the offshore drilling services provider’s stock valued at $193,000 after purchasing an additional 4,750 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Diamond Offshore Drilling by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 357,972 shares of the offshore drilling services provider’s stock valued at $5,248,000 after purchasing an additional 10,132 shares in the last quarter.
A number of equities analysts have issued reports on DO shares. ValuEngine lowered Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. TheStreet raised Diamond Offshore Drilling from a “d” rating to a “c-” rating in a research note on Monday, April 30th. Cowen reaffirmed a “hold” rating and set a $13.00 price target on shares of Diamond Offshore Drilling in a research note on Thursday, March 15th. Bank of America decreased their price target on Diamond Offshore Drilling from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, April 18th. Finally, Susquehanna Bancshares set a $16.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Friday, April 13th. Twelve equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $13.93.
In other news, insider Marc Gerard Rex Edwards sold 78,265 shares of the stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $19.95, for a total value of $1,561,386.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is owned by corporate insiders.
Shares of DO traded down $0.01 during mid-day trading on Thursday, reaching $19.17. The company’s stock had a trading volume of 10,573 shares, compared to its average volume of 1,749,221. The firm has a market capitalization of $2.68 billion, a P/E ratio of 23.35 and a beta of 1.16. Diamond Offshore Drilling Inc has a 1 year low of $10.06 and a 1 year high of $20.98. The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 0.52.
Diamond Offshore Drilling (NYSE:DO) last released its earnings results on Monday, April 30th. The offshore drilling services provider reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.03. The company had revenue of $295.50 million during the quarter, compared to analyst estimates of $295.89 million. Diamond Offshore Drilling had a return on equity of 1.78% and a net margin of 1.00%. The company’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. analysts expect that Diamond Offshore Drilling Inc will post -0.57 earnings per share for the current fiscal year.
Diamond Offshore Drilling 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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