Diamond Offshore Drilling Inc (DO) reported quarterly earnings results on Monday, Aug-1-2016. The company said it had a profit of $0.16 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $0.02. The company posted revenue of $388.75 million in the period, compared to analysts expectations of $367.31 million. The company’s revenue was down -38.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.
Many Wall Street Analysts have commented on Diamond Offshore Drilling Inc. Diamond Offshore Drilling Inc was Upgraded by KLR Group to ” Buy” on May 31, 2016.
Diamond Offshore Drilling Inc opened for trading at $21.55 and hit $22.85 on the upside on Friday, eventually ending the session at $22.72, with a gain of 4.27% or 0.93 points. The heightened volatility saw the trading volume jump to 38,61,959 shares. Company has a market cap of $3,116 M.
In a different news, on Aug 10, 2015, Edward Grebow (director) purchased 3,000 shares at $21.99 per share price. According to the SEC, on Aug 6, 2015, Paul G Gaffney (director) purchased 1,000 shares at $21.12 per share price.
Diamond Offshore Drilling Inc. is a company engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of 38 offshore drilling rigs including 27 semisubmersibles six jack-ups and five drillships. The Company’s diverse fleet enables the Company to offer a range of services around the world in both the floater market (ultra-deepwater deepwater and mid-water) and the non-floater or jack-up market. The Company’s floater fleet (semisubmersibles and drillships) is of three types: ultra-deepwater deepwater and mid-water. Jack-up rigs are mobile self-elevating drilling platforms equipped with legs that are lowered to the ocean floor. The Company’s jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of the Company’s jack-up rigs are equipped with a cantilever system that enables the rig to extend its drilling package over the aft end of the rig.