Triad Investment Management lifted its position in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 1.4% during the second quarter, HoldingsChannel reports. The firm owned 264,494 shares of the offshore drilling services provider’s stock after buying an additional 3,651 shares during the quarter. Diamond Offshore Drilling comprises 2.4% of Triad Investment Management’s portfolio, making the stock its 22nd largest holding. Triad Investment Management’s holdings in Diamond Offshore Drilling were worth $2,346,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its position in Diamond Offshore Drilling by 2.9% in the 4th quarter. BlackRock Inc. now owns 8,630,005 shares of the offshore drilling services provider’s stock valued at $81,467,000 after acquiring an additional 241,620 shares in the last quarter. FMR LLC lifted its position in Diamond Offshore Drilling by 0.3% in the 1st quarter. FMR LLC now owns 7,482,709 shares of the offshore drilling services provider’s stock valued at $78,493,000 after acquiring an additional 20,115 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Diamond Offshore Drilling by 32.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,004,510 shares of the offshore drilling services provider’s stock valued at $37,804,000 after acquiring an additional 992,277 shares in the last quarter. Majedie Asset Management Ltd lifted its position in Diamond Offshore Drilling by 39.3% in the 1st quarter. Majedie Asset Management Ltd now owns 3,121,384 shares of the offshore drilling services provider’s stock valued at $32,770,000 after acquiring an additional 880,081 shares in the last quarter. Finally, Equity Investment Corp lifted its position in Diamond Offshore Drilling by 11.9% in the 1st quarter. Equity Investment Corp now owns 2,507,635 shares of the offshore drilling services provider’s stock valued at $26,305,000 after acquiring an additional 265,959 shares in the last quarter.

Several research firms recently commented on DO. Tudor Pickering raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research report on Thursday, June 13th. Morgan Stanley set a $70.00 price objective on shares of Edison International and gave the company a “hold” rating in a research report on Monday, July 15th. SEB Equities upgraded shares of Diamond Offshore Drilling from a “sell” rating to a “hold” rating and lowered their price target for the company from $10.00 to $7.70 in a research note on Tuesday, June 18th. Bank of America set a $77.00 price target on shares of Citigroup and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Susquehanna Bancshares set a $23.00 price target on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Friday, July 19th. Eight equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Diamond Offshore Drilling has a consensus rating of “Hold” and a consensus target price of $12.74.

DO stock traded down $0.08 during midday trading on Friday, hitting $7.91. The company’s stock had a trading volume of 1,411,672 shares, compared to its average volume of 1,622,798. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.56. Diamond Offshore Drilling Inc has a twelve month low of $7.12 and a twelve month high of $20.85. The business has a fifty day moving average price of $8.41.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.06. The company had revenue of $223.50 million for the quarter, compared to analyst estimates of $231.90 million. Diamond Offshore Drilling had a negative net margin of 26.72% and a negative return on equity of 5.84%. Diamond Offshore Drilling’s revenue for the quarter was down 24.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.16) EPS. As a group, equities research analysts forecast that Diamond Offshore Drilling Inc will post -2.44 EPS for the current fiscal year.

Diamond Offshore Drilling Company Profile

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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