Shares of Diamond Offshore Drilling (DO) Rally 5.47%

Diamond Offshore Drilling (DO) : Traders are bullish on Diamond Offshore Drilling (DO) as it has outperformed the S&P 500 by a wide margin of 0.03% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.92%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.47% in the last 1 week, and is up 4.4% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 4.54% and the 50-Day Moving Average is 5.2%.

Diamond Offshore Drilling (NYSE:DO): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $26.05 and $25.83 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $26.26. The buying momentum continued till the end and the stock did not give up its gains. It closed at $25.84, notching a gain of 0.12% for the day. The total traded volume was 2,060,723 . The stock had closed at $25.81 on the previous day.


The company Insiders own 0.04% of Diamond Offshore Drilling shares according to the proxy statements. Institutional Investors own 99.35% of Diamond Offshore Drilling shares. In a related news, Grebow Edward, director of Diamond Offshore Drilling Inc had purchased 3,000 shares on August 7, 2015 in a transaction. The price per share was $21.99 and the total amount of the disclosed transaction was $65,970.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

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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