Tudor Investment Corp ET AL lowered its stake in Diamond Offshore Drilling, Inc. (NYSE:DO) by 13.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,000 shares of the offshore drilling services provider’s stock after selling 2,500 shares during the period. Tudor Investment Corp ET AL’s holdings in Diamond Offshore Drilling were worth $267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC boosted its position in shares of Diamond Offshore Drilling by 10.2% in the first quarter. Lazard Asset Management LLC now owns 6,685 shares of the offshore drilling services provider’s stock valued at $111,000 after buying an additional 620 shares during the period. Advantus Capital Management Inc boosted its position in shares of Diamond Offshore Drilling by 3.0% in the first quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock valued at $138,000 after buying an additional 242 shares during the period. Segantii Capital Management Ltd acquired a new position in shares of Diamond Offshore Drilling during the first quarter valued at about $140,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Diamond Offshore Drilling during the first quarter valued at about $169,000. Finally, Amalgamated Bank acquired a new position in shares of Diamond Offshore Drilling during the first quarter valued at about $170,000.

Diamond Offshore Drilling, Inc. (DO) traded up 2.22% during trading on Friday, reaching $10.61. 2,518,443 shares of the company were exchanged. Diamond Offshore Drilling, Inc. has a 12 month low of $10.06 and a 12 month high of $22.65. The stock has a 50 day moving average price of $11.43 and a 200 day moving average price of $13.80. The firm has a market capitalization of $1.46 billion, a PE ratio of 8.63 and a beta of 1.12.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.21. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The company had revenue of $399.30 million for the quarter, compared to analysts’ expectations of $381.50 million. During the same period last year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts expect that Diamond Offshore Drilling, Inc. will post $0.94 EPS for the current fiscal year.

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Several research analysts recently issued reports on the stock. BidaskClub cut shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $12.00 price objective (down previously from $14.00) on shares of Diamond Offshore Drilling in a report on Tuesday, July 18th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $12.50 price objective on shares of Diamond Offshore Drilling in a report on Thursday, August 3rd. Zephirin Group reaffirmed a “sell” rating on shares of Diamond Offshore Drilling in a report on Wednesday, August 2nd. Finally, Seaport Global Securities cut shares of Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and cut their price objective for the company from $12.00 to $9.00 in a report on Wednesday, June 21st. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $15.73.

In other news, Director Paul G. Gaffney purchased 4,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were bought at an average cost of $13.67 per share, with a total value of $54,680.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by company insiders.

About Diamond Offshore Drilling

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.

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

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