Thompson Rubinstein Investment Management Inc. OR lowered its holdings in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 14.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 94,056 shares of the offshore drilling services provider’s stock after selling 16,036 shares during the period. Thompson Rubinstein Investment Management Inc. OR’s holdings in Diamond Offshore Drilling were worth $1,749,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in Diamond Offshore Drilling in the 3rd quarter worth about $126,000. Raymond James Trust N.A. acquired a new position in Diamond Offshore Drilling in the 2nd quarter worth about $118,000. BlueMountain Capital Management LLC acquired a new stake in shares of Diamond Offshore Drilling in the second quarter valued at about $119,000. Zacks Investment Management acquired a new stake in shares of Diamond Offshore Drilling in the second quarter valued at about $124,000. Finally, Shell Asset Management Co. acquired a new stake in shares of Diamond Offshore Drilling in the third quarter valued at about $415,000.
Several brokerages have recently weighed in on DO. Cowen set a $18.00 price target on Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Thursday, January 11th. Susquehanna Bancshares set a $17.00 price target on Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Friday, January 12th. Jefferies Group cut Diamond Offshore Drilling from a “hold” rating to an “underperform” rating and set a $15.00 price target for the company. in a research note on Thursday, January 4th. Piper Jaffray Companies reissued an “underweight” rating on shares of Diamond Offshore Drilling in a research note on Thursday, January 11th. Finally, ValuEngine raised Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.01.
Shares of Diamond Offshore Drilling Inc (DO) traded down $0.86 during trading hours on Wednesday, reaching $19.27. The company’s stock had a trading volume of 1,292,300 shares, compared to its average volume of 1,430,400. The company has a market capitalization of $2,730.00, a price-to-earnings ratio of 15.93 and a beta of 1.28. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling Inc has a 1-year low of $10.06 and a 1-year high of $20.41.
Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $366.02 million for the quarter, compared to analyst estimates of $365.38 million. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. equities research analysts expect that Diamond Offshore Drilling Inc will post 0.87 earnings per share for the current year.
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Diamond Offshore Drilling 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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