Investors Purchase Large Volume of Put Options on Diamond Offshore Drilling (DO)

Diamond Offshore Drilling Inc (NYSE:DO) saw unusually large options trading on Monday. Stock investors purchased 7,908 put options on the company. This represents an increase of 718% compared to the average daily volume of 967 put options.

Several research firms have recently weighed in on DO. Bank of America decreased their target price on Diamond Offshore Drilling from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, April 18th. Cowen set a $16.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Friday, April 13th. ValuEngine upgraded Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 4th. Susquehanna Bancshares set a $16.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Friday, April 13th. Finally, Credit Suisse Group reiterated an “underperform” rating on shares of Diamond Offshore Drilling in a research report on Friday, April 13th. Twelve equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $13.93.

DO stock opened at $17.99 on Wednesday. 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 $2.54 billion, a P/E ratio of 21.94 and a beta of 1.16. Diamond Offshore Drilling has a 1-year low of $10.06 and a 1-year high of $20.98.



Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, April 30th. The offshore drilling services provider reported ($0.16) earnings per share 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 firm’s quarterly revenue was down 21.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. sell-side analysts anticipate that Diamond Offshore Drilling will post -0.64 EPS for the current fiscal year.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. grew its stake in Diamond Offshore Drilling by 331.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,641 shares of the offshore drilling services provider’s stock valued at $142,000 after purchasing an additional 5,872 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Diamond Offshore Drilling in the fourth quarter valued at about $171,000. Investors Research Corp purchased a new position in Diamond Offshore Drilling in the fourth quarter valued at about $209,000. US Bancorp DE grew its stake in Diamond Offshore Drilling by 77.5% in the fourth quarter. US Bancorp DE now owns 11,957 shares of the offshore drilling services provider’s stock valued at $222,000 after purchasing an additional 5,219 shares during the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new position in Diamond Offshore Drilling in the fourth quarter valued at about $245,000.

About Diamond Offshore Drilling

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.

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