First Trust Advisors LP Buys 40,955 Shares of Diamond Offshore Drilling, Inc. (DO)

First Trust Advisors LP raised its stake in Diamond Offshore Drilling, Inc. (NYSE:DO) by 20.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 239,230 shares of the offshore drilling services provider’s stock after buying an additional 40,955 shares during the quarter. First Trust Advisors LP owned approximately 0.17% of Diamond Offshore Drilling worth $2,591,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Arizona State Retirement System lifted its stake in Diamond Offshore Drilling by 1.5% in the second quarter. Arizona State Retirement System now owns 27,200 shares of the offshore drilling services provider’s stock valued at $295,000 after buying an additional 400 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Diamond Offshore Drilling by 28.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 448,736 shares of the offshore drilling services provider’s stock valued at $4,860,000 after buying an additional 98,561 shares during the last quarter. Blue Sky Asset Management LLC bought a new stake in Diamond Offshore Drilling in the second quarter valued at $245,000. TD Asset Management Inc. lifted its stake in Diamond Offshore Drilling by 20.6% in the second quarter. TD Asset Management Inc. now owns 37,500 shares of the offshore drilling services provider’s stock valued at $406,000 after buying an additional 6,400 shares during the last quarter. Finally, Texas Permanent School Fund lifted its stake in Diamond Offshore Drilling by 0.9% in the second quarter. Texas Permanent School Fund now owns 47,088 shares of the offshore drilling services provider’s stock valued at $510,000 after buying an additional 410 shares during the last quarter.

A number of research firms have issued reports on DO. BidaskClub cut Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. ValuEngine upgraded Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Wednesday. Zephirin Group reiterated a “sell” rating on shares of Diamond Offshore Drilling in a research note 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. Finally, Piper Jaffray Companies restated a “hold” rating and set a $12.50 price objective on shares of Diamond Offshore Drilling in a research note on Thursday, August 3rd. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.25.

Shares of Diamond Offshore Drilling, Inc. (NYSE:DO) opened at 12.79 on Friday. The stock’s 50 day moving average price is $11.62 and its 200-day moving average price is $13.27. Diamond Offshore Drilling, Inc. has a 52-week low of $10.06 and a 52-week high of $22.65. The company has a market capitalization of $1.76 billion, a PE ratio of 10.40 and a beta of 1.13.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $399.30 million for the quarter, compared to analyst estimates of $381.50 million. During the same quarter last year, the company earned $0.16 EPS. The company’s revenue was up 2.7% on a year-over-year basis. On average, analysts expect that Diamond Offshore Drilling, Inc. will post $0.93 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “First Trust Advisors LP Buys 40,955 Shares of Diamond Offshore Drilling, Inc. (DO)” was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://sportsperspectives.com/2017/09/08/first-trust-advisors-lp-buys-40955-shares-of-diamond-offshore-drilling-inc-do.html.

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)

Receive News & Ratings for Diamond Offshore Drilling Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply