Manning & Napier Group LLC Grows Stock Holdings in Diamond Offshore Drilling Inc (NYSE:DO)

Manning & Napier Group LLC increased its stake in shares of Diamond Offshore Drilling Inc (NYSE:DO) by 17.4% in the 3rd quarter, Holdings Channel reports. The firm owned 1,156,985 shares of the offshore drilling services provider’s stock after buying an additional 171,365 shares during the period. Manning & Napier Group LLC’s holdings in Diamond Offshore Drilling were worth $6,431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DO. Allianz Asset Management GmbH raised its holdings in shares of Diamond Offshore Drilling by 1,527.2% during the second quarter. Allianz Asset Management GmbH now owns 2,663,777 shares of the offshore drilling services provider’s stock valued at $23,628,000 after purchasing an additional 2,500,074 shares during the last quarter. Balyasny Asset Management LLC purchased a new position in shares of Diamond Offshore Drilling during the second quarter valued at approximately $5,528,000. Federated Investors Inc. PA raised its holdings in shares of Diamond Offshore Drilling by 221.7% during the first quarter. Federated Investors Inc. PA now owns 738,815 shares of the offshore drilling services provider’s stock valued at $7,750,000 after purchasing an additional 509,125 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Diamond Offshore Drilling by 48.4% during the second quarter. Van ECK Associates Corp now owns 1,476,851 shares of the offshore drilling services provider’s stock valued at $13,100,000 after purchasing an additional 481,475 shares during the last quarter. Finally, Morgan Stanley grew its position in Diamond Offshore Drilling by 210.3% during the second quarter. Morgan Stanley now owns 489,992 shares of the offshore drilling services provider’s stock valued at $4,347,000 after buying an additional 332,078 shares during the period.

Several brokerages recently issued reports on DO. ValuEngine lowered shares of Diamond Offshore Drilling from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 26th. Pareto Securities lowered shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating and cut their target price for the company from $13.50 to $6.30 in a research report on Monday, September 9th. 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 report on Thursday, July 11th. UBS Group set a $11.00 target price on shares of Diamond Offshore Drilling and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, SEB Equities upgraded shares of Diamond Offshore Drilling from a “sell” rating to a “hold” rating and cut their target price for the company from $10.00 to $7.70 in a research report on Tuesday, June 18th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $9.75.

In other Diamond Offshore Drilling news, CFO Scott Lee Kornblau sold 5,819 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.69, for a total value of $50,567.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Shares of NYSE DO opened at $5.63 on Friday. The firm has a 50 day moving average of $6.46 and a 200 day moving average of $8.31. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $775.20 million, a price-to-earnings ratio of -4.81 and a beta of 1.73. Diamond Offshore Drilling Inc has a 12-month low of $4.77 and a 12-month high of $19.70.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Monday, August 5th. The offshore drilling services provider reported ($0.99) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.10). The firm had revenue of $216.70 million during the quarter, compared to the consensus estimate of $228.46 million. Diamond Offshore Drilling had a negative return on equity of 8.55% and a negative net margin of 32.78%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.33) earnings per share. Sell-side analysts predict that Diamond Offshore Drilling Inc will post -2.79 EPS for the current year.

Diamond Offshore Drilling Profile

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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