November 29, 2016 - By Peter Erickson · 0 Comments
Diamond Offshore Drilling Inc (NYSE:DO) institutional sentiment decreased to 1.13 in 2016 Q2. Its down -0.02, from 1.15 in 2016Q1. The ratio has dropped, as 135 investment professionals increased and opened new stock positions, while 117 trimmed and sold equity positions in Diamond Offshore Drilling Inc. The investment professionals in our partner’s database now own: 140.39 million shares, up from 137.20 million shares in 2016Q1. Also, the number of investment professionals holding Diamond Offshore Drilling Inc in their top 10 stock positions decreased from 2 to 1 for a decrease of 1. Sold All: 36 Reduced: 81 Increased: 90 New Position: 45.
Diamond Offshore Drilling, Inc. is engaged in offshore drilling and providing contract drilling services to the energy industry. The company has a market cap of $2.16 billion. The Firm has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned drillships. It currently has negative earnings. The Company’s fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water).
About 928,457 shares traded hands. Diamond Offshore Drilling Inc (NYSE:DO) has declined 28.79% since April 26, 2016 and is downtrending. It has underperformed by 34.05% the S&P500.
Analysts await Diamond Offshore Drilling Inc (NYSE:DO) to report earnings on February, 13. They expect $0.10 earnings per share, down 88.76% or $0.79 from last year’s $0.89 per share. DO’s profit will be $13.69 million for 39.45 P/E if the $0.10 EPS becomes a reality. After $0.10 actual earnings per share reported by Diamond Offshore Drilling Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
According to Zacks Investment Research, “Diamond Offshore Drilling, Inc. engages principally in the contract drilling of offshore oil and gas wells. They are a leading deepwater drilling contractor and owns and operates one of the largest fleets of offshore drilling units in the world. Diamond Offshore operates in the waters of six of the world’s seven continents, supplying comprehensive drilling services to the global energy industry.”
Loews Corp holds 14.55% of its portfolio in Diamond Offshore Drilling Inc for 73.12 million shares. Equity Investment Corp Ga owns 2.67 million shares or 2.02% of their US portfolio. Moreover, Majedie Asset Management Ltd has 1.93% invested in the company for 480,269 shares. The Oregon-based Thompson Rubinstein Investment Management Inc Or has invested 1.26% in the stock. Aimz Investment Advisors Llc, a California-based fund reported 47,522 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 1 sale for $62,004 net activity.
Ratings analysis reveals 24% of Diamond Offshore Drilling Inc.’s analysts are positive. Out of 25 Wall Street analysts rating Diamond Offshore Drilling Inc., 6 give it “Buy”, 5 “Sell” rating, while 14 recommend “Hold”. The lowest target is $13 while the high is $26. The stock’s average target of $19.44 is 23.12% above today’s ($15.79) share price. DO was included in 46 notes of analysts from August 5, 2015. Guggenheim upgraded the shares of DO in a report on Monday, November 30 to “Buy” rating. As per Tuesday, August 16, the company rating was maintained by Nomura. Barclays Capital maintained Diamond Offshore Drilling Inc (NYSE:DO) rating on Monday, March 28. Barclays Capital has “Underweight” rating and $13 price target. The stock has “Buy” rating given by Bank of America on Monday, June 13. Deutsche Bank upgraded the shares of DO in a report on Monday, September 28 to “Hold” rating. KeyBanc Capital Markets initiated the stock with “Sector Weight” rating in Friday, October 9 report. The company was maintained on Wednesday, September 28 by Jefferies. The rating was upgraded by Simmons & Co to “Neutral” on Friday, March 11. FBR Capital maintained the stock with “Underperform” rating in Tuesday, November 1 report. The company was initiated on Tuesday, October 20 by Citigroup.
Diamond Offshore Drilling, Inc., incorporated on April 12, 1989, is engaged in offshore drilling and providing contract drilling services to the energy industry. The Firm has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. The Company’s fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water). The Company’s Jack-up rigs are mobile, self-elevating drilling platforms equipped with legs that are lowered to the ocean floor. The Company’s jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of the Company’s jack-up rigs are equipped with a cantilever system that enables the rig to extend its drilling package over the aft end of the rig.
Another recent and important Diamond Offshore Drilling Inc (NYSE:DO) news was published by Prnewswire.com which published an article titled: “Diamond Offshore Announces Third Quarter 2016 Results” on October 31, 2016.
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By Peter Erickson