Stock Traders Buy High Volume of Diamond Offshore Drilling Put Options (NYSE:DO)

Diamond Offshore Drilling Inc (NYSE:DO) was the recipient of unusually large options trading activity on Thursday. Traders acquired 8,577 put options on the stock. This represents an increase of 1,832% compared to the typical daily volume of 444 put options.

In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $18.55, for a total transaction of $27,825.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $18,550. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.03% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in Diamond Offshore Drilling during the 4th quarter worth $171,000. UBS Asset Management Americas Inc. lifted its position in Diamond Offshore Drilling by 8.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 81,589 shares of the offshore drilling services provider’s stock worth $1,517,000 after acquiring an additional 6,196 shares during the last quarter. Schroder Investment Management Group lifted its position in Diamond Offshore Drilling by 127.6% during the 4th quarter. Schroder Investment Management Group now owns 1,691,100 shares of the offshore drilling services provider’s stock worth $31,437,000 after acquiring an additional 948,200 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Diamond Offshore Drilling by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,606,269 shares of the offshore drilling services provider’s stock worth $29,860,000 after acquiring an additional 33,514 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Diamond Offshore Drilling by 26.9% during the 4th quarter. Arizona State Retirement System now owns 46,421 shares of the offshore drilling services provider’s stock worth $863,000 after acquiring an additional 9,835 shares during the last quarter.

Diamond Offshore Drilling (NYSE DO) traded up $0.25 during mid-day trading on Monday, hitting $15.14. 5,181,492 shares of the company traded hands, compared to its average volume of 1,748,995. 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 has a 1-year low of $10.06 and a 1-year high of $20.41. The firm has a market cap of $2,043.32, a price-to-earnings ratio of 12.41 and a beta of 1.13.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.14). Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The business had revenue of $346.20 million during the quarter, compared to analyst estimates of $331.98 million. During the same period in the previous year, the firm posted $0.27 EPS. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. sell-side analysts anticipate that Diamond Offshore Drilling will post 0.86 earnings per share for the current fiscal year.

Several equities analysts have weighed in on DO shares. UBS Group lifted their price objective on shares of Diamond Offshore Drilling from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Monday, October 16th. ValuEngine raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. TheStreet raised shares of Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. Finally, Royal Bank of Canada set a $19.00 target price on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Thursday, December 21st. Twelve research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. Diamond Offshore Drilling presently has an average rating of “Hold” and an average target price of $14.92.

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Diamond Offshore Drilling Company 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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