Diamond Offshore Drilling Inc Just Recorded A Sigfniciant Bearish Options Activity

 Diamond Offshore Drilling Inc Just Recorded A Sigfniciant Bearish Options Activity

In today’s session Diamond Offshore Drilling Inc (DO) recorded an unusually high (416) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious DO decrease. With 416 contracts traded and 47234 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: DO170120P00020000 closed last at: $4.6 or 26% up. About 769,085 shares traded hands. Diamond Offshore Drilling Inc (NYSE:DO) has declined 25.65% since April 28, 2016 and is downtrending. It has underperformed by 31.57% the S&P500.

Analysts await Diamond Offshore Drilling Inc (NYSE:DO) to report earnings on February, 13. They expect $0.10 EPS, down 88.76% or $0.79 from last year’s $0.89 per share. DO’s profit will be $15.76 million for 48.23 P/E if the $0.10 EPS becomes a reality. After $0.10 actual EPS reported by Diamond Offshore Drilling Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Diamond Offshore Drilling Inc (NYSE:DO) Ratings Coverage

Out of 25 analysts covering Diamond Offshore Drilling Inc. (NYSE:DO), 6 rate it a “Buy”, 5 “Sell”, while 14 “Hold”. This means 24% are positive. $26 is the highest target while $13 is the lowest. The $19.44 average target is 0.78% above today’s ($19.29) stock price. Diamond Offshore Drilling Inc. has been the topic of 46 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating given on Wednesday, September 21 by Goldman Sachs. The firm has “Underperform” rating given on Monday, October 17 by CLSA. The rating was maintained by Nomura with “Reduce” on Tuesday, August 16. The firm earned “Neutral” rating on Wednesday, March 16 by Citigroup. Howard Weil initiated Diamond Offshore Drilling Inc (NYSE:DO) on Wednesday, September 14 with “Sector Perform” rating. The stock of Diamond Offshore Drilling Inc (NYSE:DO) earned “Sector Perform” rating by Howard Weil on Tuesday, August 4. The firm has “Neutral” rating given on Friday, January 29 by Citigroup. The firm earned “Equal Weight” rating on Monday, October 31 by CapitalOne. The firm has “Neutral” rating given on Friday, October 7 by Seaport Global Securities. The stock has “Sector Perform” rating given by Iberia Capital Partners on Tuesday, November 3.

According to Zacks Investment Research, “Diamond Offshore Drilling, Inc. engages principally in the contract drilling of offshore oil and gas wells. They are a leading deepwater drilling contractor and owns and operates one of the largest fleets of offshore drilling units in the world. Diamond Offshore operates in the waters of six of the world’s seven continents, supplying comprehensive drilling services to the global energy industry.”

Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q2. Its down 0.02, from 1.15 in 2016Q1. The ratio turned negative, as 36 funds sold all Diamond Offshore Drilling Inc shares owned while 81 reduced positions. 45 funds bought stakes while 90 increased positions. They now own 140.39 million shares or 2.33% more from 137.20 million shares in 2016Q1.
First Republic Inv Mngmt accumulated 25,209 shares or 0.01% of the stock. Barnett Co accumulated 0% or 100 shares. Moreover, Wells Fargo And Communications Mn has 0% invested in Diamond Offshore Drilling Inc (NYSE:DO) for 208,020 shares. Toronto Dominion National Bank reported 280 shares or 0% of all its holdings. Meritage Port Mgmt has invested 0.3% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO). Citigroup owns 166,295 shares or 0% of their US portfolio. River Mercantile Asset Ltd Liability Partnership owns 97,300 shares or 1.06% of their US portfolio. Numeric Limited Liability Corporation holds 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 14,800 shares. The New York-based Cornerstone Capital Management Hldg Lc has invested 0% in Diamond Offshore Drilling Inc (NYSE:DO). American Century Cos has 161,329 shares for 0% of their US portfolio. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0.01% invested in Diamond Offshore Drilling Inc (NYSE:DO) for 22,200 shares. Newgate Cap Mngmt Lc holds 14,501 shares or 0.29% of its portfolio. Mutual Of America Cap Mngmt Ltd Liability Com reported 7,624 shares or 0% of all its holdings. Timber Hill Limited Liability Corp has invested 0% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO). Calamos Limited last reported 0.01% of its portfolio in the stock.

Insider Transactions: Since November 8, 2016, the stock had 0 insider purchases, and 1 insider sale for $62,004 net activity. 4,000 shares with value of $62,004 were sold by Gaffney Paul G on Tuesday, November 8.

Diamond Offshore Drilling, Inc. is engaged in offshore drilling and providing contract drilling services to the energy industry. The company has a market cap of $3.04 billion. The Firm has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned drillships. It currently has negative earnings. The Company’s fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water).

DO Company Profile

Diamond Offshore Drilling, Inc., incorporated on April 12, 1989, is engaged in offshore drilling and providing contract drilling services to the energy industry. The Firm has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. The Company’s fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water). The Company’s 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.

More news for Diamond Offshore Drilling Inc (NYSE:DO) were recently published by: Foxbusiness.com, which released: “Here’s Why Seadrill Ltd, Noble Corporation, and Diamond Offshore Drilling Inc …” on November 30, 2016. Nasdaq.com‘s article titled: “Diamond Offshore Drilling Reaches Analyst Target Price” and published on December 01, 2016 is yet another important article.

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