GWM Advisors LLC Has $251,000 Position in Diamond Offshore Drilling Inc (DO)

GWM Advisors LLC decreased its position in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 67.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,284 shares of the offshore drilling services provider’s stock after selling 18,911 shares during the period. GWM Advisors LLC’s holdings in Diamond Offshore Drilling were worth $251,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its position in shares of Diamond Offshore Drilling by 844.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 238,294 shares of the offshore drilling services provider’s stock worth $25,000 after purchasing an additional 213,051 shares during the last quarter. Advisor Group Inc. increased its position in shares of Diamond Offshore Drilling by 108.3% in the 4th quarter. Advisor Group Inc. now owns 3,577 shares of the offshore drilling services provider’s stock worth $35,000 after purchasing an additional 1,860 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Diamond Offshore Drilling by 111.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,681 shares of the offshore drilling services provider’s stock worth $44,000 after purchasing an additional 2,468 shares during the last quarter. US Bancorp DE increased its position in shares of Diamond Offshore Drilling by 33.6% in the 1st quarter. US Bancorp DE now owns 5,354 shares of the offshore drilling services provider’s stock worth $56,000 after purchasing an additional 1,346 shares during the last quarter. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Diamond Offshore Drilling in the 4th quarter worth about $61,000.

Shares of NYSE:DO opened at $8.40 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.56. Diamond Offshore Drilling Inc has a fifty-two week low of $8.34 and a fifty-two week high of $21.92. The stock has a market cap of $1.33 billion, a P/E ratio of -7.18 and a beta of 1.57.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.06. Diamond Offshore Drilling had a negative net margin of 26.72% and a negative return on equity of 5.84%. The business had revenue of $223.50 million during the quarter, compared to the consensus estimate of $231.90 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. The company’s revenue for the quarter was down 24.4% compared to the same quarter last year. On average, equities analysts expect that Diamond Offshore Drilling Inc will post -2.28 earnings per share for the current fiscal year.

DO has been the subject of several research analyst reports. Clarkson Capital downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a research report on Friday, April 12th. Barclays raised shares of Diamond Offshore Drilling from an “underweight” rating to an “overweight” rating and set a $10.29 target price for the company in a research report on Wednesday, February 20th. ValuEngine downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research report on Friday, January 25th. Finally, Piper Jaffray Companies raised shares of Diamond Offshore Drilling from an “underweight” rating to a “neutral” rating and dropped their target price for the stock from $9.40 to $8.75 in a research report on Wednesday. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $15.11.

In other Diamond Offshore Drilling news, Director Paul G. Gaffney acquired 4,000 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was acquired at an average price of $9.91 per share, with a total value of $39,640.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.

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About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.

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

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