Manning & Napier Group LLC Acquires 171,365 Shares of Diamond Offshore Drilling Inc (NYSE:DO)

Manning & Napier Group LLC increased its holdings in Diamond Offshore Drilling Inc (NYSE:DO) by 17.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,156,985 shares of the offshore drilling services provider’s stock after buying an additional 171,365 shares during the period. Manning & Napier Group LLC owned 0.84% of Diamond Offshore Drilling worth $6,431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Diamond Offshore Drilling by 2.0% in the 2nd quarter. BlackRock Inc. now owns 10,960,114 shares of the offshore drilling services provider’s stock worth $97,215,000 after purchasing an additional 214,749 shares in the last quarter. Advisory Services Network LLC lifted its stake in Diamond Offshore Drilling by 5,817.6% in the 2nd quarter. Advisory Services Network LLC now owns 7,752 shares of the offshore drilling services provider’s stock worth $69,000 after purchasing an additional 7,621 shares in the last quarter. Foundation Resource Management Inc. lifted its stake in Diamond Offshore Drilling by 1.6% in the 3rd quarter. Foundation Resource Management Inc. now owns 330,487 shares of the offshore drilling services provider’s stock worth $1,838,000 after purchasing an additional 5,211 shares in the last quarter. First Trust Advisors LP lifted its stake in Diamond Offshore Drilling by 1.9% in the 2nd quarter. First Trust Advisors LP now owns 137,291 shares of the offshore drilling services provider’s stock worth $1,218,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Diamond Offshore Drilling in the 2nd quarter worth approximately $2,106,000.

DO has been the topic of several research reports. HSBC set a $11.00 price objective on shares of Diamond Offshore Drilling and gave the company a “buy” rating in a research report on Monday, July 15th. Scotiabank set a $7.00 price objective on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Monday, August 26th. Susquehanna Bancshares set a $9.00 price objective on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Friday, July 19th. Pareto Securities cut shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating and lowered their price objective for the company from $13.50 to $6.30 in a research report on Monday, September 9th. Finally, Piper Jaffray Companies set a $8.00 target price on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a report on Thursday, July 11th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.75.

Shares of Diamond Offshore Drilling stock opened at $5.63 on Friday. The firm has a market cap of $775.20 million, a PE ratio of -4.81 and a beta of 1.73. Diamond Offshore Drilling Inc has a 12-month low of $4.77 and a 12-month high of $19.70. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $6.46 and its two-hundred day simple moving average is $8.31.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings results on Monday, August 5th. The offshore drilling services provider reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The firm had revenue of $216.70 million during the quarter, compared to the consensus estimate of $228.46 million. Diamond Offshore Drilling had a negative return on equity of 8.55% and a negative net margin of 32.78%. Diamond Offshore Drilling’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the business earned ($0.33) EPS. As a group, sell-side analysts expect that Diamond Offshore Drilling Inc will post -2.79 earnings per share for the current fiscal year.

In other Diamond Offshore Drilling news, CFO Scott Lee Kornblau sold 5,819 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $8.69, for a total value of $50,567.11. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Diamond Offshore Drilling Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.

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

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