Canada Pension Plan Investment Board acquired a new position in Diamond Offshore Drilling, Inc. (NYSE:DO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 189,303 shares of the offshore drilling services provider’s stock, valued at approximately $2,745,000. Canada Pension Plan Investment Board owned about 0.14% of Diamond Offshore Drilling at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Treasurer State of Michigan boosted its stake in Diamond Offshore Drilling by 1.5% in the second quarter. State Treasurer State of Michigan now owns 26,600 shares of the offshore drilling services provider’s stock worth $288,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System boosted its stake in Diamond Offshore Drilling by 1.5% in the second quarter. Arizona State Retirement System now owns 27,200 shares of the offshore drilling services provider’s stock worth $295,000 after buying an additional 400 shares in the last quarter. Texas Permanent School Fund boosted its stake in Diamond Offshore Drilling by 0.9% in the second quarter. Texas Permanent School Fund now owns 47,088 shares of the offshore drilling services provider’s stock worth $510,000 after buying an additional 410 shares in the last quarter. Comerica Bank boosted its stake in Diamond Offshore Drilling by 0.8% in the second quarter. Comerica Bank now owns 55,321 shares of the offshore drilling services provider’s stock worth $647,000 after buying an additional 437 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Diamond Offshore Drilling by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the offshore drilling services provider’s stock worth $182,000 after buying an additional 500 shares in the last quarter.

Diamond Offshore Drilling, Inc. (DO) opened at $15.76 on Friday. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $2,170.94, a price-to-earnings ratio of 9.20 and a beta of 1.31. Diamond Offshore Drilling, Inc. has a twelve month low of $10.06 and a twelve month high of $22.65.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $366.02 million during the quarter, compared to the consensus estimate of $365.38 million. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. equities analysts forecast that Diamond Offshore Drilling, Inc. will post 0.9 EPS for the current year.

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DO has been the subject of several research reports. UBS AG raised Diamond Offshore Drilling from a “neutral” rating to a “buy” rating and upped their target price for the stock from $12.00 to $15.00 in a research note on Monday, September 25th. Clarkson Capital raised Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group LLC set a $12.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Friday, August 25th. Cowen and Company reaffirmed a “hold” rating and issued a $11.00 target price on shares of Diamond Offshore Drilling in a research note on Tuesday, September 5th. Finally, Seaport Global Securities reaffirmed a “sell” rating on shares of Diamond Offshore Drilling in a research note on Monday, July 31st. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.71.

Diamond Offshore Drilling 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.

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

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