Diamond Offshore Drilling, Inc. (DO) Holdings Lifted by New York State Teachers Retirement System

New York State Teachers Retirement System raised its holdings in shares of Diamond Offshore Drilling, Inc. (NYSE:DO) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,900 shares of the offshore drilling services provider’s stock after purchasing an additional 11,600 shares during the period. New York State Teachers Retirement System owned 0.09% of Diamond Offshore Drilling worth $1,739,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DO. BlackRock Inc. raised its position in shares of Diamond Offshore Drilling by 22.0% in the 2nd quarter. BlackRock Inc. now owns 9,209,573 shares of the offshore drilling services provider’s stock worth $99,741,000 after acquiring an additional 1,658,687 shares in the last quarter. Contrarius Investment Management Ltd raised its position in shares of Diamond Offshore Drilling by 99.0% in the 2nd quarter. Contrarius Investment Management Ltd now owns 6,606,440 shares of the offshore drilling services provider’s stock worth $71,548,000 after acquiring an additional 3,286,580 shares in the last quarter. Equity Investment Corp Acquisition Inc raised its position in shares of Diamond Offshore Drilling by 76.1% in the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 4,566,588 shares of the offshore drilling services provider’s stock worth $49,456,000 after acquiring an additional 1,973,653 shares in the last quarter. State Street Corp raised its position in shares of Diamond Offshore Drilling by 27.3% in the 2nd quarter. State Street Corp now owns 3,021,468 shares of the offshore drilling services provider’s stock worth $32,721,000 after acquiring an additional 648,077 shares in the last quarter. Finally, Horseman Capital Management Ltd bought a new position in shares of Diamond Offshore Drilling in the 3rd quarter worth approximately $30,944,000.

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A number of research analysts recently weighed in on the company. FBR & Co set a $13.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Monday, October 30th. B. Riley reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, November 1st. Jefferies Group LLC set a $15.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Monday, October 30th. UBS AG raised their price objective on Diamond Offshore Drilling from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Barclays PLC reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Sunday, November 5th. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $14.71.

Shares of Diamond Offshore Drilling, Inc. (DO) opened at $17.38 on Monday. Diamond Offshore Drilling, Inc. has a twelve month low of $10.06 and a twelve month high of $22.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.58 and a quick ratio of 3.58. The stock has a market capitalization of $2,385.02, a PE ratio of 10.10 and a beta of 1.31.

Diamond Offshore Drilling (NYSE:DO) last issued its earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The firm had revenue of $366.02 million for the quarter, compared to analysts’ expectations of $365.38 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. research analysts anticipate that Diamond Offshore Drilling, Inc. will post 0.9 EPS for the current fiscal year.

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)

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