Hikari Power Ltd Has $1.65 Million Holdings in Diamond Offshore Drilling, Inc. (DO)

Hikari Power Ltd trimmed its holdings in shares of Diamond Offshore Drilling, Inc. (NYSE:DO) by 80.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,800 shares of the offshore drilling services provider’s stock after selling 453,900 shares during the period. Hikari Power Ltd owned about 0.08% of Diamond Offshore Drilling worth $1,650,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DO. Teachers Advisors LLC boosted its position in Diamond Offshore Drilling by 4.9% during the first quarter. Teachers Advisors LLC now owns 123,726 shares of the offshore drilling services provider’s stock valued at $2,067,000 after buying an additional 5,781 shares during the period. Geode Capital Management LLC boosted its position in Diamond Offshore Drilling by 4.8% during the first quarter. Geode Capital Management LLC now owns 475,783 shares of the offshore drilling services provider’s stock valued at $7,950,000 after buying an additional 21,836 shares during the period. BlackRock Inc. boosted its position in Diamond Offshore Drilling by 7,375.1% during the first quarter. BlackRock Inc. now owns 7,550,886 shares of the offshore drilling services provider’s stock valued at $126,177,000 after buying an additional 7,449,872 shares during the period. Amalgamated Bank bought a new position in shares of Diamond Offshore Drilling during the first quarter valued at about $170,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Diamond Offshore Drilling by 1.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 350,175 shares of the offshore drilling services provider’s stock valued at $5,852,000 after acquiring an additional 6,313 shares during the last quarter.

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

Diamond Offshore Drilling, Inc. (NYSE:DO) traded down $0.06 during trading hours on Friday, hitting $15.76. 1,172,400 shares of the stock were exchanged, compared to its average volume of 2,996,080. Diamond Offshore Drilling, Inc. has a 1 year low of $10.06 and a 1 year high of $22.65. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $2,210.00, a PE ratio of 9.20 and a beta of 1.31.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The firm had revenue of $366.02 million for the quarter, compared to analysts’ expectations of $365.38 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. sell-side analysts forecast that Diamond Offshore Drilling, Inc. will post 0.9 EPS for the current year.

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Diamond Offshore Drilling Company 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.

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

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