Private Management Group Inc. lifted its stake in Diamond Offshore Drilling, Inc. (NYSE:DO) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 326,485 shares of the offshore drilling services provider’s stock after buying an additional 17,984 shares during the period. Private Management Group Inc. owned approximately 0.24% of Diamond Offshore Drilling worth $4,734,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DO. Hikari Power Ltd grew its stake in shares of Diamond Offshore Drilling by 416.6% in the second quarter. Hikari Power Ltd now owns 567,700 shares of the offshore drilling services provider’s stock worth $6,148,000 after purchasing an additional 457,800 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Diamond Offshore Drilling by 522.1% in the second quarter. BNP Paribas Arbitrage SA now owns 119,776 shares of the offshore drilling services provider’s stock worth $1,297,000 after purchasing an additional 100,521 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Diamond Offshore Drilling by 20.7% in the second quarter. First Trust Advisors LP now owns 239,230 shares of the offshore drilling services provider’s stock worth $2,591,000 after purchasing an additional 40,955 shares during the last quarter. BlackRock Inc. grew its stake in shares of Diamond Offshore Drilling by 7,375.1% in the first quarter. BlackRock Inc. now owns 7,550,886 shares of the offshore drilling services provider’s stock worth $126,177,000 after purchasing an additional 7,449,872 shares during the last quarter. Finally, Wayne Hummer Investments L.L.C. bought a new stake in shares of Diamond Offshore Drilling in the second quarter worth about $145,000.

Several research firms recently issued reports on DO. Jefferies Group LLC reissued a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Tuesday, October 31st. BidaskClub cut Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Royal Bank Of Canada raised Diamond Offshore Drilling from an “underperform” rating to a “sector perform” rating and set a $15.00 target price on the stock in a research note on Friday, August 25th. Piper Jaffray Companies reissued a “hold” rating and issued a $9.33 target price on shares of Diamond Offshore Drilling in a research note on Tuesday, September 19th. Finally, ValuEngine raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Eight equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.71.

TRADEMARK VIOLATION WARNING: “Private Management Group Inc. Has $4.73 Million Stake in Diamond Offshore Drilling, Inc. (DO)” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/11/16/private-management-group-inc-has-4-73-million-stake-in-diamond-offshore-drilling-inc-do.html.

Shares of Diamond Offshore Drilling, Inc. (NYSE:DO) traded up $0.03 during midday trading on Thursday, reaching $15.82. 3,397,000 shares of the company were exchanged, compared to its average volume of 3,004,332. Diamond Offshore Drilling, Inc. has a 52 week low of $10.06 and a 52 week high of $22.65. The stock has a market cap of $2,166.83, a price-to-earnings ratio of 9.18 and a beta of 1.31. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.58.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $366.02 million during the quarter, compared to analyst estimates of $365.38 million. During the same period in the previous year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. equities research analysts predict that Diamond Offshore Drilling, Inc. will post 0.9 earnings per share for the current year.

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)

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