Diamond Offshore Drilling Inc (NYSE:DO) Shares Bought by First Republic Investment Management Inc.

First Republic Investment Management Inc. boosted its holdings in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 50.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,850 shares of the offshore drilling services provider’s stock after buying an additional 16,770 shares during the quarter. First Republic Investment Management Inc.’s holdings in Diamond Offshore Drilling were worth $731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DO. Contrarius Investment Management Ltd grew its stake in shares of Diamond Offshore Drilling by 65.3% during the 1st quarter. Contrarius Investment Management Ltd now owns 9,629,654 shares of the offshore drilling services provider’s stock worth $141,171,000 after purchasing an additional 3,802,402 shares during the period. Schroder Investment Management Group grew its stake in shares of Diamond Offshore Drilling by 127.6% during the 4th quarter. Schroder Investment Management Group now owns 1,691,100 shares of the offshore drilling services provider’s stock worth $31,437,000 after purchasing an additional 948,200 shares during the period. Gotham Asset Management LLC grew its stake in shares of Diamond Offshore Drilling by 1,401.7% during the 4th quarter. Gotham Asset Management LLC now owns 540,731 shares of the offshore drilling services provider’s stock worth $10,052,000 after purchasing an additional 504,723 shares during the period. Northern Trust Corp grew its stake in shares of Diamond Offshore Drilling by 37.9% during the 1st quarter. Northern Trust Corp now owns 1,810,868 shares of the offshore drilling services provider’s stock worth $26,548,000 after purchasing an additional 497,490 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of Diamond Offshore Drilling during the 4th quarter worth approximately $7,814,000.

In other news, insider Marc Gerard Rex Edwards sold 78,265 shares of Diamond Offshore Drilling stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $19.95, for a total transaction of $1,561,386.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.03% of the stock is owned by insiders.



DO traded up $0.02 on Thursday, hitting $19.20. 14,302 shares of the company’s stock were exchanged, compared to its average volume of 1,749,221. Diamond Offshore Drilling Inc has a fifty-two week low of $10.06 and a fifty-two week high of $20.98. 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 cap of $2.68 billion, a PE ratio of 23.38 and a beta of 1.16.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Monday, April 30th. The offshore drilling services provider reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.03. Diamond Offshore Drilling had a return on equity of 1.78% and a net margin of 1.00%. The business had revenue of $295.50 million for the quarter, compared to analyst estimates of $295.89 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The company’s quarterly revenue was down 21.0% compared to the same quarter last year. research analysts anticipate that Diamond Offshore Drilling Inc will post -0.57 earnings per share for the current year.

DO has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Diamond Offshore Drilling from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Jefferies Financial Group reissued a “sell” rating and issued a $12.00 price target on shares of Diamond Offshore Drilling in a research note on Thursday, February 15th. ValuEngine cut shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Cowen reissued a “hold” rating and issued a $13.00 price target on shares of Diamond Offshore Drilling in a research note on Thursday, March 15th. Finally, Credit Suisse Group reissued an “underperform” rating on shares of Diamond Offshore Drilling in a research note on Friday, April 13th. Twelve equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $13.93.

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.

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

Receive News & Ratings for Diamond Offshore Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply