Diamond Offshore Drilling Inc (DO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Diamond Offshore Drilling Inc (NYSE:DO) by 6.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,572,755 shares of the offshore drilling services provider’s stock after selling 116,188 shares during the period. Bank of New York Mellon Corp owned approximately 1.15% of Diamond Offshore Drilling worth $22,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in shares of Diamond Offshore Drilling by 2.3% during the third quarter. Rhumbline Advisers now owns 137,428 shares of the offshore drilling services provider’s stock worth $1,993,000 after acquiring an additional 3,069 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Diamond Offshore Drilling by 135.5% during the third quarter. BNP Paribas Arbitrage SA now owns 282,051 shares of the offshore drilling services provider’s stock valued at $4,090,000 after buying an additional 162,275 shares in the last quarter. American Century Companies Inc. raised its holdings in Diamond Offshore Drilling by 94.4% during the third quarter. American Century Companies Inc. now owns 304,584 shares of the offshore drilling services provider’s stock valued at $4,416,000 after buying an additional 147,939 shares in the last quarter. Gabelli Funds LLC raised its holdings in Diamond Offshore Drilling by 12.5% during the third quarter. Gabelli Funds LLC now owns 45,000 shares of the offshore drilling services provider’s stock valued at $653,000 after buying an additional 5,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Diamond Offshore Drilling during the third quarter valued at about $2,745,000.

Diamond Offshore Drilling Inc (DO) opened at $16.63 on Friday. Diamond Offshore Drilling Inc has a one year low of $10.06 and a one year high of $19.99. 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 $2,309.54, a P/E ratio of 9.78 and a beta of 1.29.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, topping the 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 firm had revenue of $366.02 million during the quarter, compared to analysts’ expectations of $365.38 million. During the same quarter in the previous year, the company posted $0.10 EPS. Diamond Offshore Drilling’s revenue was up 4.8% on a year-over-year basis. sell-side analysts forecast that Diamond Offshore Drilling Inc will post 0.88 EPS for the current fiscal year.

Several brokerages have recently issued reports on DO. Pareto Securities raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, August 18th. B. Riley reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, November 1st. FBR & Co raised Diamond Offshore Drilling from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research report on Tuesday, October 10th. Jefferies Group set a $15.00 price target on Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Monday, October 30th. Finally, Cowen reaffirmed a “hold” rating and issued a $11.00 price target on shares of Diamond Offshore Drilling in a research report on Tuesday, September 5th. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $14.71.

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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.

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

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