Diamond Offshore profit beats on demand for ultra-deepwater rigs

Diamond Offshore also announced today that it has declared a regular quarterly dividend of $0.125 per share, payable on September 1, 2015 to shareholders of record as of August 14, 2015.

Diamond Offshore Drilling, Inc.is a company engaged in offshore drilling and providing contract drilling services to the energy industry. Barclays began coverage on shares of Diamond Offshore Drilling in a research note on Thursday, June 11th.

CNA Financial Corp, Loews’ largest unit in which it holds 90 percent stake, reported a 48 percent fall in second quarter profit as its net investment income declined.

Analysts had expected the company to post earnings of 70 cents per share on revenue of $3.59 billion. Analysts are projecting that the company will report earnings per share of 0.44 for next quarter. The 52-week high of Diamond Offshore Drilling, Inc. During the previous session, the company’s minimum price was $8.08, while it touched its highest price for the day at $8.58. Income from operations was $148.3 million in the second quarter of 2015, a decrease of $12.6 million when contrast to income from operations of $160.9 million in the second quarter of 2014.

Diamond Offshore stated that it’d gained an 18-month agreement to release its deepwater platform in a price of $ 285, in Sea Top, Sydney. The stock was purchased at an average cost of $25.75 per share, with a total value of $25,750.00.

Shares of Diamond Offshore Drilling (NYSE:DO) opened at 21.22 on Tuesday. On a consensus basis, analysts have a one year target price of 23.89. The 1-year stock price history is in the range of $20.6 – $47.34. Its market capitalization was $20.31 billion. The stock has a 50-day moving average of $38.75 and a 200-day moving average of $40.27.

In other news, Director Edward Grebow bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Zacks Research has given Diamond Offshore Drilling, Inc. Diamond Offshore’s fleet consists of 24 semisubmersibles, one of which is under construction, five dynamically positioned drillships, and six jack-ups. The Organization ‘s floater fleet (semisubmersibles and drillships) is of three kinds: ultra-deepwater, deepwater, and mid water. 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.