Mraz Amerine Associates Lowers stake in Diamond Offshore Drilling Inc (DO)

Diamond Offshore Drilling Inc (DO) : Mraz Amerine Associates reduced its stake in Diamond Offshore Drilling Inc by 0.78% during the most recent quarter end. The investment management company now holds a total of 38,196 shares of Diamond Offshore Drilling Inc which is valued at $838,402 after selling 300 shares in Diamond Offshore Drilling Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Diamond Offshore Drilling Inc makes up approximately 0.29% of Mraz Amerine Associates’s portfolio.

Other Hedge Funds, Including , Candriam Luxembourg S.c.a. boosted its stake in DO in the latest quarter, The investment management firm added 1,726 additional shares and now holds a total of 74,049 shares of Diamond Offshore Drilling Inc which is valued at $1,625,376. Diamond Offshore Drilling Inc makes up approx 0.04% of Candriam Luxembourg S.c.a.’s portfolio. Financial Architects Inc added DO to its portfolio by purchasing 3,300 company shares during the most recent quarter which is valued at $72,435. Diamond Offshore Drilling Inc makes up approx 0.02% of Financial Architects Inc’s portfolio. Joel Isaacson added DO to its portfolio by purchasing 520 company shares during the most recent quarter which is valued at $12,230.Kwmg reduced its stake in DO by selling 1,910 shares or 4.91% in the most recent quarter. The Hedge Fund company now holds 36,984 shares of DO which is valued at $869,864. Diamond Offshore Drilling Inc makes up approx 0.46% of Kwmg’s portfolio.Quantres Asset Management Ltd reduced its stake in DO by selling 2,900 shares or 19.59% in the most recent quarter. The Hedge Fund company now holds 11,900 shares of DO which is valued at $279,888. Diamond Offshore Drilling Inc makes up approx 0.17% of Quantres Asset Management Ltd’s portfolio.

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.

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. Company shares were Reiterated by Deutsche Bank on May 3, 2016 to “Hold”, Firm has raised the Price Target to $ 17 from a previous price target of $14 .

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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