Diamond Offshore Drilling, Inc. (DO) Position Boosted by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund raised its stake in shares of Diamond Offshore Drilling, Inc. (NYSE:DO) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,587 shares of the offshore drilling services provider’s stock after buying an additional 1,014 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Diamond Offshore Drilling were worth $255,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. raised its position in shares of Diamond Offshore Drilling by 1.3% in the first quarter. American Century Companies Inc. now owns 248,976 shares of the offshore drilling services provider’s stock valued at $4,160,000 after buying an additional 3,101 shares during the last quarter. State Treasurer State of Michigan increased its stake in Diamond Offshore Drilling by 0.8% in the first quarter. State Treasurer State of Michigan now owns 26,200 shares of the offshore drilling services provider’s stock valued at $438,000 after buying an additional 200 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new stake in Diamond Offshore Drilling during the first quarter valued at $169,000. Stoneridge Investment Partners LLC increased its stake in Diamond Offshore Drilling by 55.1% in the first quarter. Stoneridge Investment Partners LLC now owns 290,185 shares of the offshore drilling services provider’s stock valued at $4,849,000 after buying an additional 103,129 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Diamond Offshore Drilling by 109.3% in the first quarter. Wells Fargo & Company MN now owns 542,934 shares of the offshore drilling services provider’s stock valued at $9,073,000 after buying an additional 283,500 shares during the period.

Shares of Diamond Offshore Drilling, Inc. (NYSE DO) traded up 0.74% during mid-day trading on Tuesday, reaching $12.29. The company had a trading volume of 863,909 shares. The company has a market capitalization of $1.69 billion, a P/E ratio of 9.99 and a beta of 1.12. Diamond Offshore Drilling, Inc. has a 12-month low of $10.06 and a 12-month high of $22.65. The firm has a 50-day moving average of $11.27 and a 200-day moving average of $14.31.

Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.21. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The business had revenue of $399.30 million during the quarter, compared to the consensus estimate of $381.50 million. During the same quarter last year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that Diamond Offshore Drilling, Inc. will post $0.93 earnings per share for the current fiscal year.

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Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Diamond Offshore Drilling from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a report on Tuesday, April 11th. BMO Capital Markets reissued a “sell” rating and set a $14.50 price objective on shares of Diamond Offshore Drilling in a report on Tuesday, April 18th. Credit Suisse Group set a $18.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a report on Thursday, April 20th. Barclays PLC reissued an “equal weight” rating and set a $15.00 price objective (down previously from $19.00) on shares of Diamond Offshore Drilling in a report on Monday, May 1st. Finally, Jefferies Group LLC cut their price objective on Diamond Offshore Drilling from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, May 2nd. Eleven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Diamond Offshore Drilling has a consensus rating of “Hold” and an average target price of $15.91.

In other Diamond Offshore Drilling news, Director Paul G. Gaffney bought 4,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was acquired at an average price of $13.67 per share, with a total value of $54,680.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is currently owned by company insiders.

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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