Diamond Offshore Drilling, Inc. (NYSE:DO) Stake Increased by Northern Trust Corp

Northern Trust Corp raised its holdings in shares of Diamond Offshore Drilling, Inc. (NYSE:DO) by 72.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,036,984 shares of the offshore drilling services provider’s stock after acquiring an additional 436,582 shares during the period. Northern Trust Corp owned approximately 0.76% of Diamond Offshore Drilling worth $11,230,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in Diamond Offshore Drilling by 7,375.1% in the 1st quarter. BlackRock Inc. now owns 7,550,886 shares of the offshore drilling services provider’s stock worth $126,177,000 after purchasing an additional 7,449,872 shares during the period. Contrarius Investment Management Ltd lifted its position in Diamond Offshore Drilling by 99.0% during the 2nd quarter. Contrarius Investment Management Ltd now owns 6,606,440 shares of the offshore drilling services provider’s stock worth $71,548,000 after buying an additional 3,286,580 shares in the last quarter. Equity Investment Corp Acquisition Inc lifted its position in Diamond Offshore Drilling by 76.1% during the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 4,566,588 shares of the offshore drilling services provider’s stock worth $49,456,000 after buying an additional 1,973,653 shares in the last quarter. Hikari Power Ltd raised its holdings in shares of Diamond Offshore Drilling by 416.6% in the 2nd quarter. Hikari Power Ltd now owns 567,700 shares of the offshore drilling services provider’s stock valued at $6,148,000 after purchasing an additional 457,800 shares during the period. Finally, Laurion Capital Management LP bought a new stake in shares of Diamond Offshore Drilling in the 2nd quarter valued at about $3,811,000.

DO has been the topic of a number of analyst reports. FBR & Co set a $13.00 target price on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Monday, October 30th. B. Riley restated a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, November 1st. Jefferies Group LLC set a $15.00 target price on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Monday, October 30th. UBS AG raised their price target on shares of Diamond Offshore Drilling from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Finally, Barclays PLC reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Sunday, November 5th. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.71.

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Shares of Diamond Offshore Drilling, Inc. (NYSE:DO) opened at $16.62 on Tuesday. Diamond Offshore Drilling, Inc. has a 12 month low of $10.06 and a 12 month high of $22.65. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52. The stock has a market cap of $2,385.02, a price-to-earnings ratio of 10.10 and a beta of 1.31.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The company had revenue of $366.02 million during the quarter, compared to analyst estimates of $365.38 million. During the same period in the prior year, the business posted $0.10 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. analysts forecast that Diamond Offshore Drilling, Inc. will post 0.9 earnings per share for the current fiscal year.

About Diamond Offshore Drilling

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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