James Investment Research Inc. Reduces Stake in Diamond Offshore Drilling Inc (NYSE:DO)

James Investment Research Inc. cut its holdings in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 63.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,860 shares of the offshore drilling services provider’s stock after selling 145,614 shares during the quarter. James Investment Research Inc. owned approximately 0.06% of Diamond Offshore Drilling worth $1,770,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. increased its holdings in Diamond Offshore Drilling by 331.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,641 shares of the offshore drilling services provider’s stock worth $142,000 after purchasing an additional 5,872 shares during the last quarter. V Wealth Management LLC purchased a new stake in Diamond Offshore Drilling during the 2nd quarter worth approximately $238,000. Northwestern Mutual Investment Management Company LLC increased its holdings in Diamond Offshore Drilling by 56.2% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 13,197 shares of the offshore drilling services provider’s stock worth $193,000 after purchasing an additional 4,750 shares during the last quarter. Ahrens Investment Partners LLC purchased a new stake in Diamond Offshore Drilling during the 1st quarter worth approximately $208,000. Finally, D.B. Root & Company LLC purchased a new stake in Diamond Offshore Drilling during the 1st quarter worth approximately $211,000.

Diamond Offshore Drilling opened at $18.40 on Friday, Marketbeat reports. Diamond Offshore Drilling Inc has a 12-month low of $10.19 and a 12-month high of $21.92. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.53.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, July 30th. The offshore drilling services provider reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.06. The business had revenue of $268.90 million during the quarter, compared to analyst estimates of $279.83 million. Diamond Offshore Drilling had a negative return on equity of 1.06% and a negative net margin of 5.57%. The business’s revenue for the quarter was down 32.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. sell-side analysts forecast that Diamond Offshore Drilling Inc will post -1.07 EPS for the current year.

Several research firms have issued reports on DO. UBS Group set a $26.00 price objective on Diamond Offshore Drilling and gave the stock a “buy” rating in a report on Tuesday, July 31st. Jefferies Financial Group restated a “sell” rating and set a $16.00 price objective on shares of Diamond Offshore Drilling in a report on Monday, July 30th. Bank of America decreased their target price on Diamond Offshore Drilling from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, April 18th. Credit Suisse Group lifted their target price on Diamond Offshore Drilling from $14.00 to $15.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 31st. Finally, B. Riley set a $17.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Nine analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.68.

In other Diamond Offshore Drilling news, SVP David L. Roland sold 1,744 shares of Diamond Offshore Drilling stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $19.73, for a total transaction of $34,409.12. Following the sale, the senior vice president now owns 9,194 shares of the company’s stock, valued at approximately $181,397.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is owned by insiders.

Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.

Recommended Story: How to Track your Portfolio in Google Finance

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

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

Leave a Reply