O Shaughnessy Asset Management LLC Lowers Holdings in Diamond Offshore Drilling Inc (DO)

O Shaughnessy Asset Management LLC decreased its holdings in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 20.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 256,752 shares of the offshore drilling services provider’s stock after selling 67,397 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.19% of Diamond Offshore Drilling worth $5,135,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Diamond Offshore Drilling during the second quarter valued at $108,000. Contravisory Investment Management Inc. bought a new position in shares of Diamond Offshore Drilling during the third quarter valued at $144,000. ING Groep NV bought a new position in shares of Diamond Offshore Drilling during the second quarter valued at $206,000. V Wealth Management LLC bought a new position in shares of Diamond Offshore Drilling during the second quarter valued at $238,000. Finally, We Are One Seven LLC bought a new position in shares of Diamond Offshore Drilling during the third quarter valued at $267,000.

NYSE DO traded up $0.55 during trading hours on Monday, reaching $13.15. The company’s stock had a trading volume of 1,963,143 shares, compared to its average volume of 1,730,168. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.54. Diamond Offshore Drilling Inc has a 1 year low of $11.96 and a 1 year high of $21.92. The stock has a market cap of $1.73 billion, a PE ratio of 16.04 and a beta of 1.44.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Monday, November 5th. The offshore drilling services provider reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.10. Diamond Offshore Drilling had a negative return on equity of 2.92% and a negative net margin of 11.11%. The company had revenue of $286.30 million for the quarter, compared to analysts’ expectations of $281.74 million. During the same period in the previous year, the firm earned $0.25 EPS. The firm’s revenue was down 21.8% compared to the same quarter last year. On average, analysts forecast that Diamond Offshore Drilling Inc will post -1.12 EPS for the current fiscal year.

Several equities analysts have recently weighed in on DO shares. ValuEngine downgraded Diamond Offshore Drilling from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 27th. UBS Group upgraded Diamond Offshore Drilling from a “reduce” rating to an “accumulate” rating in a report on Thursday, October 18th. HSBC upgraded Diamond Offshore Drilling from a “hold” rating to a “buy” rating and boosted their price target for the company from $18.80 to $20.80 in a research note on Friday, September 21st. Piper Jaffray Companies set a $10.00 price target on Diamond Offshore Drilling and gave the company a “sell” rating in a research note on Tuesday, November 6th. Finally, Susquehanna Bancshares set a $16.00 price target on Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Tuesday, November 6th. Eleven analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.66.

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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.

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

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