MetLife Investment Advisors LLC Sells 39,299 Shares of Diamond Offshore Drilling Inc (NYSE:DO)

MetLife Investment Advisors LLC trimmed its holdings in Diamond Offshore Drilling Inc (NYSE:DO) by 59.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,291 shares of the offshore drilling services provider’s stock after selling 39,299 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Diamond Offshore Drilling were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DO. BlackRock Inc. grew its position in shares of Diamond Offshore Drilling by 2.9% in the fourth quarter. BlackRock Inc. now owns 8,630,005 shares of the offshore drilling services provider’s stock valued at $81,467,000 after purchasing an additional 241,620 shares during the last quarter. FMR LLC lifted its stake in shares of Diamond Offshore Drilling by 4.5% in the fourth quarter. FMR LLC now owns 7,462,594 shares of the offshore drilling services provider’s stock valued at $70,447,000 after buying an additional 321,092 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Diamond Offshore Drilling by 32.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,004,510 shares of the offshore drilling services provider’s stock valued at $37,804,000 after buying an additional 992,277 shares during the period. Majedie Asset Management Ltd lifted its stake in shares of Diamond Offshore Drilling by 39.3% in the first quarter. Majedie Asset Management Ltd now owns 3,121,384 shares of the offshore drilling services provider’s stock valued at $32,770,000 after buying an additional 880,081 shares during the period. Finally, Equity Investment Corp lifted its stake in shares of Diamond Offshore Drilling by 11.9% in the first quarter. Equity Investment Corp now owns 2,507,635 shares of the offshore drilling services provider’s stock valued at $26,305,000 after buying an additional 265,959 shares during the period.

Several equities research analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Broadcom from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Piper Jaffray Companies set a $8.00 target price on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Thursday, July 11th. Tudor Pickering upgraded shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. HSBC set a $12.00 target price on shares of Transocean and gave the company a “buy” rating in a research note on Monday. Finally, UBS Group set a $13.00 target price on shares of Freeport-McMoRan and gave the company a “hold” rating in a research note on Wednesday, June 26th. Eight investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Diamond Offshore Drilling has a consensus rating of “Hold” and an average price target of $13.10.

Shares of NYSE DO traded down $0.26 during midday trading on Thursday, reaching $7.67. 2,411,300 shares of the stock were exchanged, compared to its average volume of 2,805,595. The stock has a market capitalization of $1.06 billion, a P/E ratio of -6.58 and a beta of 1.69. Diamond Offshore Drilling Inc has a 12 month low of $7.12 and a 12 month high of $20.85. The business’s 50-day moving average is $8.42. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.56.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.06. The business had revenue of $223.50 million for the quarter, compared to analysts’ expectations of $231.90 million. Diamond Offshore Drilling had a negative net margin of 26.72% and a negative return on equity of 5.84%. The firm’s revenue was down 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) EPS. Equities research analysts anticipate that Diamond Offshore Drilling Inc will post -2.43 earnings per share for the current year.

About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.

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

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