Commonwealth Equity Services LLC bought a new position in Diamond Offshore Drilling Inc (NYSE:DO) during the third quarter, Holdings Channel reports. The firm bought 31,630 shares of the offshore drilling services provider’s stock, valued at approximately $632,000.
Other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of Diamond Offshore Drilling in the second quarter worth about $1,879,000. We Are One Seven LLC purchased a new stake in Diamond Offshore Drilling during the third quarter valued at approximately $267,000. ING Groep NV purchased a new stake in Diamond Offshore Drilling during the second quarter valued at approximately $206,000. Public Employees Retirement System of Ohio purchased a new stake in Diamond Offshore Drilling during the second quarter valued at approximately $392,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Diamond Offshore Drilling during the second quarter valued at approximately $275,000.
A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Diamond Offshore Drilling from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Piper Jaffray Companies set a $10.00 price objective on Diamond Offshore Drilling and gave the company a “sell” rating in a research report on Tuesday, November 6th. Susquehanna Bancshares set a $16.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Tuesday, November 6th. JPMorgan Chase & Co. downgraded Diamond Offshore Drilling from a “neutral” rating to an “underweight” rating and set a $14.00 price objective on the stock. in a research report on Friday, October 12th. Finally, HSBC upgraded Diamond Offshore Drilling from a “hold” rating to a “buy” rating and upped their price objective for the company from $18.80 to $20.80 in a research report on Friday, September 21st. Eleven analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.66.
DO opened at $12.65 on Thursday. The company has a market cap of $1.73 billion, a PE ratio of 15.43 and a beta of 1.43. Diamond Offshore Drilling Inc has a one year low of $11.96 and a one year high of $21.92. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.54.
Diamond Offshore Drilling (NYSE:DO) last released its earnings results on Monday, November 5th. The offshore drilling services provider reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. The firm had revenue of $286.30 million for the quarter, compared to analysts’ expectations of $281.74 million. Diamond Offshore Drilling had a negative return on equity of 2.92% and a negative net margin of 11.11%. The company’s quarterly revenue was down 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. As a group, equities research analysts predict that Diamond Offshore Drilling Inc will post -1.12 earnings per share for the current year.
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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.
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