In a filing, Diamond Offshore Drilling Inc. revealed its Senior Vice President and CFO Savarino Dominic A unloaded Company’s shares for reported $86955.0 on Jul 07. In the deal valued at $15.00 per share,5,797 shares were sold. As a result of this transaction, Savarino Dominic A now holds 37,975 shares worth roughly $ 0.6 million.
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Then, Savarino Dominic A sold 6,027 shares, generating $65,922 in total proceeds. Upon selling the shares at $10.94, the Senior Vice President and CFO now owns 40,608 shares.
Before that, Savarino Dominic A sold 10,000 shares. Diamond Offshore Drilling Inc. shares valued at $122,516 were divested by the Senior Vice President and CFO at a price of $12.25 per share. As a result of the transaction, Savarino Dominic A now holds 25,309 shares, worth roughly $0.4 million.
BTIG Research initiated its Diamond Offshore Drilling Inc. [DO] rating to a Buy in a research note published on Tuesday, September 05, 2023; the price target was $20. PT values the company’s stock at a premium of 21.45 to its Tuesday closing price.
Price Performance Review of DO
On Tuesday, Diamond Offshore Drilling Inc. [NYSE:DO] saw its stock jump 2.95% to $15.71. On the same session, the stock had its day’s lowest price of $15.46, but rose to a high of $15.95. Over the last five days, the stock has gained 9.71%. Diamond Offshore Drilling Inc. shares have risen nearly 51.06% since the year began. Nevertheless, the stocks have risen 126.37% over the past one year. While a 52-week high of $16.52 was reached on 07/18/23, a 52-week low of $6.12 was recorded on 01/05/23. SMA at 50 days reached $15.05, while 200 days put it at $12.12. A total of 2.36 million shares were traded, compared to the trading of 1.14 million shares in the previous session.
Levels Of Support And Resistance For DO Stock
The 24-hour chart illustrates a support level at 15.46, which if violated will result in even more drops to 15.22. On the upside, there is a resistance level at 15.95. A further resistance level may holdings at 16.20. The Relative Strength Index (RSI) on the 14-day chart is 58.73, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 28.09%. Stochastics %K at 60.67% indicates the stock is a holding.
How much short interest is there in Diamond Offshore Drilling Inc.?
A steep rise in short interest was recorded in Diamond Offshore Drilling Inc. stocks on Aug 14, 2023, dropping by -0.72 million shares to a total of 1.73 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.45 million shares. There was a decline of -41.62%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.70% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.52.
Diamond Offshore Drilling Inc. [DO] – Who Are The Largest Shareholders?
In filings from Contrarius Investment Management, it is revealed that the company now owns 7,592,548 shares, or roughly 7.42% of the outstanding DO shares. In other words, the investor’s shares have fallen by -610,973 from its previous 13-F filing of 8203521.0. Additionally, KGH Ltd. increased 10.05% of its stake after which the total value it holdings stand at $119,567,188, while BlackRock Fund Advisors added 0.43% of its stake to hold $105.93 million in the firm. Over the last quarter, Wellington Management Co. LLP sold -1,159,726 shares of Diamond Offshore Drilling Inc., while The Vanguard Group, Inc. sold 81,524 shares. At present, Victory Capital Management, Inc. is holding 3,411,359 shares valued at $54.0 million. Millennium Management LLC owned 3,318,142 shares of the company at the time of its most recent 13F filing, worth $52.53 million.
According to FactSet, Diamond Offshore Drilling Inc.’s share price will average $18.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 17.96 percent from its previous closing price of $15.26. Analysts expect Diamond Offshore Drilling Inc. stock to reach the higher price of $20.00, while the lowest price estimate is $16.00. However, 6 analysts have rated DO stock as an Overweight in their predictions for 2023.