KCG Holdings Inc. Sells 50,120 Shares of Diamond Offshore Drilling, Inc. (DO)

KCG Holdings Inc. decreased its stake in Diamond Offshore Drilling, Inc. (NYSE:DO) by 73.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,338 shares of the offshore drilling services provider’s stock after selling 50,120 shares during the period. KCG Holdings Inc.’s holdings in Diamond Offshore Drilling were worth $306,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Pastel & Associes SA increased its stake in Diamond Offshore Drilling by 20.0% in the first quarter. Pastel & Associes SA now owns 449,120 shares of the offshore drilling services provider’s stock valued at $7,505,000 after buying an additional 75,000 shares during the period. Hartford Investment Management Co. increased its stake in Diamond Offshore Drilling by 30.8% in the first quarter. Hartford Investment Management Co. now owns 13,771 shares of the offshore drilling services provider’s stock valued at $230,000 after buying an additional 3,240 shares during the period. Louisiana State Employees Retirement System increased its stake in Diamond Offshore Drilling by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 16,300 shares of the offshore drilling services provider’s stock valued at $272,000 after buying an additional 400 shares during the period. Verde Servicos Internacionais S.A. acquired a new stake in Diamond Offshore Drilling during the first quarter valued at approximately $302,000. Finally, Bank of Montreal Can increased its stake in Diamond Offshore Drilling by 38.1% in the first quarter. Bank of Montreal Can now owns 39,299 shares of the offshore drilling services provider’s stock valued at $657,000 after buying an additional 10,841 shares during the period.

Shares of Diamond Offshore Drilling, Inc. (NYSE:DO) traded up 2.22% during midday trading on Friday, hitting $10.61. 2,518,443 shares of the company were exchanged. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 8.63 and a beta of 1.12. Diamond Offshore Drilling, Inc. has a 52-week low of $10.06 and a 52-week high of $22.65. The company has a 50-day moving average price of $11.43 and a 200-day moving average price of $13.80.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.24 by $0.21. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The company had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $381.50 million. During the same quarter in the previous year, the business earned $0.16 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that Diamond Offshore Drilling, Inc. will post $0.94 EPS for the current year.

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Several analysts have recently commented on the stock. BidaskClub downgraded shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Zephirin Group reaffirmed a “sell” rating on shares of Diamond Offshore Drilling in a report on Wednesday, August 2nd. Seaport Global Securities reiterated a “sell” rating on shares of Diamond Offshore Drilling in a research note on Monday, July 31st. Piper Jaffray Companies reiterated a “hold” rating and issued a $12.50 target price on shares of Diamond Offshore Drilling in a research note on Thursday, August 3rd. Finally, Pareto Securities upgraded shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Friday. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $15.73.

In other news, Director Paul G. Gaffney bought 4,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was acquired at an average price of $13.67 per share, for a total transaction of $54,680.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.03% of the stock is currently owned by insiders.

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.

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

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