Airain ltd increased its stake in shares of Diamond Offshore Drilling, Inc. (NYSE:DO) by 182.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,894 shares of the offshore drilling services provider’s stock after buying an additional 158,778 shares during the period. Airain ltd owned 0.18% of Diamond Offshore Drilling worth $2,663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lazard Asset Management LLC increased its stake in 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 worth $111,000 after buying an additional 620 shares during the period. Advantus Capital Management Inc increased its stake in 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 worth $138,000 after buying an additional 242 shares during the period. Segantii Capital Management Ltd acquired a new stake in Diamond Offshore Drilling during the first quarter worth $140,000. Commerzbank Aktiengesellschaft FI acquired a new stake in Diamond Offshore Drilling during the first quarter worth $169,000. Finally, Amalgamated Bank acquired a new stake in Diamond Offshore Drilling during the first quarter worth $170,000.

Shares of Diamond Offshore Drilling, Inc. (NYSE:DO) opened at 11.58 on Wednesday. The stock has a market cap of $1.59 billion, a P/E ratio of 9.41 and a beta of 1.12. The stock has a 50 day moving average price of $11.41 and a 200-day moving average price of $13.60. Diamond Offshore Drilling, Inc. has a 12 month low of $10.06 and a 12 month high of $22.65.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.24 by $0.21. The business had revenue of $399.30 million for the quarter, compared to analysts’ expectations of $381.50 million. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS. On average, analysts forecast that Diamond Offshore Drilling, Inc. will post $0.93 EPS for the current fiscal year.

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A number of research firms recently weighed in on DO. BidaskClub downgraded Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Royal Bank Of Canada upgraded Diamond Offshore Drilling from an “underperform” rating to a “sector perform” rating and set a $15.00 price target on the stock in a research note on Friday, August 25th. Jefferies Group LLC restated a “hold” rating and issued a $12.00 price target (down from $14.00) on shares of Diamond Offshore Drilling in a research note on Tuesday, July 18th. Piper Jaffray Companies restated a “hold” rating and issued a $12.50 price target on shares of Diamond Offshore Drilling in a research note on Thursday, August 3rd. Finally, Zephirin Group restated a “sell” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, August 2nd. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.58.

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.

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

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