Equity Investment Corpga Lowers stake in Diamond Offshore Drilling Inc (DO)

Diamond Offshore Drilling Inc (DO) : Equity Investment Corpga reduced its stake in Diamond Offshore Drilling Inc by 5.35% during the most recent quarter end. The investment management company now holds a total of 2,665,846 shares of Diamond Offshore Drilling Inc which is valued at $56,595,911 after selling 150,651 shares in Diamond Offshore Drilling Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Diamond Offshore Drilling Inc makes up approximately 1.70% of Equity Investment Corpga’s portfolio.

Other Hedge Funds, Including , Spot Trading L.l.c reduced its stake in DO by selling 79,988 shares or 58.51% in the most recent quarter. The Hedge Fund company now holds 56,723 shares of DO which is valued at $1,204,229. Diamond Offshore Drilling Inc makes up approx 0.16% of Spot Trading L.l.c’s portfolio.Lmr Partners Llp reduced its stake in DO by selling 20,801 shares or 55.31% in the most recent quarter. The Hedge Fund company now holds 16,804 shares of DO which is valued at $381,787. Diamond Offshore Drilling Inc makes up approx 0.06% of Lmr Partners Llp’s portfolio. Gradient Investments sold out all of its stake in DO during the most recent quarter. The investment firm sold 100 shares of DO which is valued $2,527.Capstone Asset Management Co reduced its stake in DO by selling 6,480 shares or 14.64% in the most recent quarter. The Hedge Fund company now holds 37,776 shares of DO which is valued at $945,911. Diamond Offshore Drilling Inc makes up approx 0.03% of Capstone Asset Management Co’s portfolio.Foundation Resource Management Inc boosted its stake in DO in the latest quarter, The investment management firm added 312 additional shares and now holds a total of 197,403 shares of Diamond Offshore Drilling Inc which is valued at $4,836,374. Diamond Offshore Drilling Inc makes up approx 0.89% of Foundation Resource Management Inc’s portfolio.

Diamond Offshore Drilling Inc opened for trading at $21.73 and hit $22.25 on the upside on Monday, eventually ending the session at $22.06, with a gain of 2.80% or 0.6 points. The heightened volatility saw the trading volume jump to 25,25,716 shares. Company has a market cap of $3,026 M.

On the company’s financial health, Diamond Offshore Drilling Inc reported $0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.02. The company had revenue of $388.75 million for the quarter, 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. 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.

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