Northern Trust Corp Has $26.55 Million Stake in Diamond Offshore Drilling Inc (DO)

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Northern Trust Corp lifted its stake in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 37.9% during the 1st quarter, HoldingsChannel reports. The firm owned 1,810,868 shares of the offshore drilling services provider’s stock after buying an additional 497,490 shares during the period. Northern Trust Corp’s holdings in Diamond Offshore Drilling were worth $26,548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in shares of Diamond Offshore Drilling by 77.5% during the 4th quarter. US Bancorp DE now owns 11,957 shares of the offshore drilling services provider’s stock worth $222,000 after purchasing an additional 5,219 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Diamond Offshore Drilling by 12.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 46,126 shares of the offshore drilling services provider’s stock worth $857,000 after purchasing an additional 5,270 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Diamond Offshore Drilling by 331.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,641 shares of the offshore drilling services provider’s stock worth $142,000 after purchasing an additional 5,872 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Diamond Offshore Drilling by 3.3% during the 4th quarter. Allianz Asset Management GmbH now owns 187,903 shares of the offshore drilling services provider’s stock worth $3,493,000 after purchasing an additional 5,990 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of Diamond Offshore Drilling by 8.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 81,589 shares of the offshore drilling services provider’s stock worth $1,517,000 after purchasing an additional 6,196 shares in the last quarter.

Diamond Offshore Drilling stock opened at $18.22 on Friday. The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 22.22 and a beta of 1.16. Diamond Offshore Drilling Inc has a 12 month low of $10.06 and a 12 month high of $20.98.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, April 30th. The offshore drilling services provider reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.03. The firm had revenue of $295.50 million during the quarter, compared to the consensus estimate of $295.89 million. Diamond Offshore Drilling had a return on equity of 1.78% and a net margin of 1.00%. The business’s quarterly revenue was down 21.0% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. research analysts anticipate that Diamond Offshore Drilling Inc will post -0.64 EPS for the current year.

DO has been the topic of several analyst reports. ValuEngine lowered Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. TheStreet raised Diamond Offshore Drilling from a “d” rating to a “c-” rating in a report on Monday, April 30th. Bank of America reduced their price objective on Diamond Offshore Drilling from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 18th. Cowen reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Diamond Offshore Drilling in a research note on Thursday, March 15th. Finally, Susquehanna Bancshares set a $16.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Friday, April 13th. Twelve research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.25.

In other Diamond Offshore Drilling news, insider Marc Gerard Rex Edwards sold 78,265 shares of the stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $19.95, for a total value of $1,561,386.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is currently owned by company insiders.

Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.

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

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