Large Inflow of Money Witnessed in Diamond Offshore Drilling

Diamond Offshore Drilling (NYSE:DO) : $1.69 million worth of transactions were on upticks in Diamond Offshore Drilling (NYSE:DO), compared to $1.25 million on downticks. The ratio between the two was 1.35, whereas, the net money flow stood at a healthy $0.44 million on Wednesdays session. The consistent buying on upticks in the stock accounted for $0.38million worth of trades. The total money flow into the stock stood at $0.38 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.17%. The stock was trading at $23.94, with a drop of $0.04 over the previous days close. The stock recorded -2.68% for the week.


In an insider trading activity, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Diamond Offshore Drilling Inc, Grebow Edward had purchased shares worth of $65,970 in a transaction dated on August 7, 2015. A total of 3,000 shares were purchased at a price of $21.99 per share. The information is based on open market trades at the market prices.Option exercises are not covered. Currently the company Insiders own 0.04% of Diamond Offshore Drilling shares according to the proxy statements. Institutional Investors own 99.34% of Diamond Offshore Drilling shares.

The company shares have dropped -5.37% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $26.72 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $24.58 and the 200 Day Moving Average price is recorded at $21.73. Diamond Offshore Drilling (NYSE:DO): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $24.33 and $23.89 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.56. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.27, notching a gain of 1.21% for the day. The total traded volume was 2,361,110 . The stock had closed at $23.98 on the previous day.

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 Companys 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 Companys 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 Companys jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of the Companys 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.

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