Legal & General Group Plc trimmed its position in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 7.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,033 shares of the offshore drilling services provider’s stock after selling 13,351 shares during the quarter. Legal & General Group Plc’s holdings in Diamond Offshore Drilling were worth $3,463,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Diamond Offshore Drilling during the second quarter worth approximately $108,000. V Wealth Management LLC acquired a new position in shares of Diamond Offshore Drilling during the second quarter worth approximately $238,000. Northwestern Mutual Investment Management Company LLC raised its position in shares of Diamond Offshore Drilling by 56.2% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 13,197 shares of the offshore drilling services provider’s stock worth $193,000 after purchasing an additional 4,750 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of Diamond Offshore Drilling during the second quarter worth approximately $275,000. Finally, Ahrens Investment Partners LLC acquired a new position in shares of Diamond Offshore Drilling during the first quarter worth approximately $208,000.
In other news, SVP David L. Roland sold 1,744 shares of the firm’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $19.73, for a total transaction of $34,409.12. Following the completion of the sale, the senior vice president now directly owns 9,194 shares of the company’s stock, valued at approximately $181,397.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.
NYSE DO opened at $19.29 on Thursday. Diamond Offshore Drilling Inc has a 12 month low of $13.64 and a 12 month high of $21.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.23 and a quick ratio of 4.23.
Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, July 30th. The offshore drilling services provider reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.06. The business had revenue of $268.90 million during the quarter, compared to analyst estimates of $279.83 million. Diamond Offshore Drilling had a negative return on equity of 1.06% and a negative net margin of 5.57%. Diamond Offshore Drilling’s quarterly revenue was down 32.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. sell-side analysts anticipate that Diamond Offshore Drilling Inc will post -1.13 EPS for the current fiscal year.
About Diamond Offshore Drilling
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.
Further Reading: Asset Allocation, Balancing Your Investments
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