The Diamond Offshore Drilling Inc. (DO) Shares Bought by BlackRock Institutional Trust Company N.A.

The Diamond Offshore Drilling Inc. (DO) Shares Bought by BlackRock Institutional Trust Company N.A.

BlackRock Institutional Trust Company N.A. raised its stake in Diamond Offshore Drilling Inc. (NYSE:DO) by 16.5% during the third quarter, Holdings Channel reports. The fund owned 3,458,640 shares of the offshore drilling services provider’s stock after buying an additional 489,160 shares during the period. BlackRock Institutional Trust Company N.A. owned approximately 2.52% of Diamond Offshore Drilling worth $60,907,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nationwide Fund Advisors boosted its position in shares of Diamond Offshore Drilling by 149.9% in the third quarter. Nationwide Fund Advisors now owns 86,277 shares of the offshore drilling services provider’s stock valued at $1,519,000 after buying an additional 51,759 shares during the last quarter. Lucus Advisors LLC purchased a new position in shares of Diamond Offshore Drilling during the second quarter valued at about $344,000. LSV Asset Management boosted its position in shares of Diamond Offshore Drilling by 30.3% in the third quarter. LSV Asset Management now owns 1,541,567 shares of the offshore drilling services provider’s stock valued at $27,146,000 after buying an additional 358,300 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Diamond Offshore Drilling during the third quarter valued at about $6,907,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of Diamond Offshore Drilling by 3,583.6% in the third quarter. Canada Pension Plan Investment Board now owns 217,703 shares of the offshore drilling services provider’s stock valued at $3,834,000 after buying an additional 211,793 shares during the last quarter.

Shares of Diamond Offshore Drilling Inc. (NYSE:DO) opened at 18.26 on Thursday. The stock’s market capitalization is $2.50 billion. Diamond Offshore Drilling Inc. has a one year low of $14.67 and a one year high of $26.72. The firm has a 50 day moving average price of $19.01 and a 200 day moving average price of $18.80.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, October 31st. The offshore drilling services provider reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. Diamond Offshore Drilling had a positive return on equity of 6.32% and a negative net margin of 41.61%. The firm had revenue of $349.20 million for the quarter, compared to the consensus estimate of $365.03 million. During the same quarter last year, the business posted $1.01 earnings per share. The firm’s revenue was down 42.7% compared to the same quarter last year. Analysts predict that Diamond Offshore Drilling Inc. will post $1.02 earnings per share for the current fiscal year.

DO has been the topic of a number of analyst reports. Vetr cut Diamond Offshore Drilling from a “strong-buy” rating to a “buy” rating and set a $18.75 price objective on the stock. in a research report on Monday, October 10th. Swedbank raised Diamond Offshore Drilling to a “buy” rating in a research report on Tuesday, November 1st. Zephirin Group reaffirmed a “buy” rating and set a $22.00 price objective on shares of Diamond Offshore Drilling in a research report on Tuesday, December 27th. Capital One Financial Corp. raised Diamond Offshore Drilling from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock in a research report on Monday, October 31st. Finally, Barclays PLC raised Diamond Offshore Drilling from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $15.00 to $19.00 in a research report on Monday, January 9th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.44.

About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc is engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. Its fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water).

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