The company said its quarterly profit dropped due to lower revenue from its Diamond Offshore Drilling unit and its insurance business. Van Den Berg Management I Inc is another very bullish investment manager who is having 956,913 shares of Diamond Offshore or 2.67% of their long stock exposure.
Advertisement
Majority-owned by U.S. conglomerate Loews Corp, Diamond Offshore, stated on Friday that income from its super-deepwater company increased 72.8 percent within the second-quarter to $315.7 million. The offshore drilling services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.07.
The company is expected to announce next quarter earnings on August 03, at consensus estimate of $0.7. During last trade, the company’s minimum price was $29.19, while it touched its highest price of $30.03.
In a research note to investors, FBR & Co. They issued an “underweight” rating and a $24.00 price objective for the company. Eight analysts surveyed by Zacks expected $604.9 million. The stock was purchased at an average cost of $25.75 per share, with a total value of $25,750.00. The 12-month mean target is $23.89, which means upside potential of 12.58% over the current price.
Diamond Offshore (NYSE:DO) traded down -3.33% on 8 April, hitting $21.22. On August 5, 2014 The shares registered one year high of $47.34 and one year low was seen on July 27, 2015 at $20.6. Analysts expect that Diamond Offshore Drilling will post $1.99 EPS for the current year. The stock has a 50-day moving average of $38.75 and a 200-day moving average of $40.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Advertisement
Diamond Offshore Drilling Inc are listed in the Energy sector within NYSE. The Company has a fleet of 44 offshore drilling rigs, consisting of 32 semisubmersibles, seven jack-ups and five dynamically positioned drillships, four of which are under construction. The Company’s diverse fleet empowers the Company to provide a range of services around the world in both the floater marketplace (NYSE:DO) as well as the non-floater, or jack-up, marketplace. The Company’s floater fleet (semisubmersibles and drillships) is of three types: ultra-deepwater, deepwater, and mid-water. The Organization ‘s jack-ups are useful from 20 feet to 350 feet. Each of the Business ‘s jack-up rigs are designed with a cantilever system which allows the rig to extend its drilling package over the aft end of the rig.
