Energy Opportunities Capital Management LLC Has $1.49 Million Position in Diamond Offshore Drilling, Inc. (DO)

Energy Opportunities Capital Management LLC increased its position in Diamond Offshore Drilling, Inc. (NYSE:DO) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,465 shares of the offshore drilling services provider’s stock after acquiring an additional 2,950 shares during the period. Energy Opportunities Capital Management LLC owned approximately 0.10% of Diamond Offshore Drilling worth $1,489,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings 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 during the period. Contrarius Investment Management Ltd increased its holdings 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 during the period. Equity Investment Corp Acquisition Inc increased its holdings 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 during the period. State Street Corp increased its holdings 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 during the period. Finally, Pastel & Associes SA increased its holdings in shares of Diamond Offshore Drilling by 168.2% in the 2nd quarter. Pastel & Associes SA now owns 1,204,455 shares of the offshore drilling services provider’s stock worth $13,044,000 after acquiring an additional 755,335 shares during the period.

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A number of research firms recently weighed in on DO. Citigroup Inc. cut shares of Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and set a $12.00 price objective on the stock. in a report on Thursday. FBR & Co raised shares of Diamond Offshore Drilling from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a report on Tuesday. Deutsche Bank AG began coverage on shares of Diamond Offshore Drilling in a report on Tuesday. They issued a “hold” rating and a $15.00 price objective on the stock. Bank of America Corporation cut shares of Diamond Offshore Drilling from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $13.00 to $14.00 in a report on Monday. Finally, Royal Bank Of Canada set a $15.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Saturday, October 7th. Ten investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Diamond Offshore Drilling has an average rating of “Hold” and an average price target of $14.42.

Diamond Offshore Drilling, Inc. (DO) traded up 4.84% during trading on Friday, reaching $15.17. 1,289,003 shares of the company’s stock traded hands. The firm’s 50 day moving average is $13.42 and its 200-day moving average is $12.93. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 12.33 and a beta of 1.19. Diamond Offshore Drilling, Inc. has a 12 month low of $10.06 and a 12 month high of $22.65.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.21. The firm had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $381.50 million. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS. Analysts expect that Diamond Offshore Drilling, Inc. will post $0.91 EPS for the current fiscal year.

Diamond Offshore Drilling Profile

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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