Is Diamond Offshore still trading?
Offshore drilling contractor Diamond Offshore has revealed it will be returning to the New York Stock Exchange (NYSE) after nearly two years.Mar 25, 2022
What is happening with Diamond Offshore?
Diamond Offshore Drilling (DOFSQ), a premier player in the space in terms of fleet age and safety record, fully restructured its balance sheet last year via a Chapter 11 filing, and although it emerged from bankruptcy on April 24, 2021 with virtually no debt, it is failing to record healthy operating and net income ...Aug 11, 2021
What happened to Diamond Offshore Drilling?
Houston-based Diamond Offshore Drilling Inc. emerged from Chapter 11 bankruptcy on April 23 after completing its financial reorganization. Under the restructuring, creditors exchanged about $2.1 billion in debt claims for the majority of the post-bankruptcy ownership interest in the company.Apr 27, 2021
Who bought Diamond Offshore?
Loews CorporationIn 1989, Loews Corporation acquired the company for $48.5 million.
Is Diamond Offshore a good investment?
And even though offshore spending hasn't exactly bounced back since the 2015 oil price crash, it has increased over the past year, and Diamond is one of the best run offshore contractors and should continue to win business and generate positive operating cash.Feb 10, 2020
How many rigs does Transocean have working?
Transocean owns or has partial ownership interests in, and operates a fleet of 37 mobile offshore drilling units consisting of 27 ultra-deepwater floaters, and 10 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships.
What happened to Dofsq?
Date: 04/23/2021 The Plan became effective on April 23, 2021, and all existing DOFSQ shares were cancelled. DOFSQ shareholders are entitled to receive a Pro Rata portion of New Warrants (“Warrants”), as described in the Plan.Apr 23, 2021
Where is Diamond Offshore Drilling located?
Houston, TexasDiamond Offshore owns and operates one of the world's largest fleets of offshore drilling rigs, consisting of 32 semisubmersibles, 14 jack-up rigs and one drillship. The Company's headquarters are in Houston, Texas.
Who is the shipment district manager of Diamond Offshore Drilling company?
King Great - Shipment district manager - Diamond offshore drilling company aberdeen United kingdom | LinkedIn.
What is diamond drilling in mining?
Diamond Drilling is a form of core drilling which uses a rotary drill with a diamond drill bit attached in order to create precisely measured holes. As diamond is the hardest naturally occurring material in the world, it is ideal for creating openings in a range of materials including concrete, metal and glass.
How were Diamond Offshore Drilling's earnings last quarter?
Diamond Offshore Drilling Inc (NYSE:DO) posted its earnings results on Monday, February, 10th. The offshore drilling services provider reported ($0...
Is Diamond Offshore Drilling a good dividend stock?
Diamond Offshore Drilling pays an annual dividend of $0.50 per share and currently has a dividend yield of 53.19%. DO has a dividend yield higher t...
Who are Diamond Offshore Drilling's key executives?
Diamond Offshore Drilling's management team includes the following people: Mr. Marc Gerard Rex Edwards , Pres, CEO & Director (Age 58) Mr. Scott...
What is Marc Edwards' approval rating as Diamond Offshore Drilling's CEO?
34 employees have rated Diamond Offshore Drilling CEO Marc Edwards on Glassdoor.com . Marc Edwards has an approval rating of 25% among Diamond Off...
Who are some of Diamond Offshore Drilling's key competitors?
Some companies that are related to Diamond Offshore Drilling include Helmerich & Payne (HP) , Patterson-UTI Energy (PTEN) , Nabors Industries (N...
What other stocks do shareholders of Diamond Offshore Drilling own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Diamond Offshore Drilling investors own include Bank of Am...
What is Diamond Offshore Drilling's stock symbol?
Diamond Offshore Drilling trades on the New York Stock Exchange (NYSE) under the ticker symbol "DO."
What is Diamond Offshore Drilling's stock price today?
One share of DO stock can currently be purchased for approximately $0.16.
How much money does Diamond Offshore Drilling make?
Diamond Offshore Drilling has a market capitalization of $22.09 million and generates $980.64 million in revenue each year. The offshore drilling s...
Summary
Unlike other Energy sub-sectors where we have seen a recovery in profits on the back of higher oil prices, the offshore drilling subsector remains highly challenged with weak prospects.
Investment Thesis
The highly challenged Energy sector has seen a revival this year with many sub-sectors of the industry experiencing significant positive year to date stock returns ( ( XLE) is up 30% YTD).
Historical Performance
Diamond Offshore Drilling used to be one of the major players in the offshore drilling industry with a market capitalization that perched above $6 billion for most of its history and an enviable historic dividend yield:
Conclusion
Diamond Offshore sits in the very challenged offshore drilling Energy sub-sector and was severely impacted by both the Covid-19 pandemic and its historically leveraged balance sheet.
0.0 Analyst's Opinion
Diamond Offshore Drilling has received 637 “outperform” votes. (Add your “outperform” vote.)
How were Diamond Offshore Drilling's earnings last quarter?
Diamond Offshore Drilling Inc (NYSE:DO) announced its quarterly earnings data on Monday, February, 10th. The offshore drilling services provider reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.21.
Is Diamond Offshore Drilling a good dividend stock?
Diamond Offshore Drilling pays an annual dividend of $0.50 per share and currently has a dividend yield of 53.19%. DO has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. View Diamond Offshore Drilling's dividend history.
What is Marc Edwards' approval rating as Diamond Offshore Drilling's CEO?
34 employees have rated Diamond Offshore Drilling CEO Marc Edwards on Glassdoor.com. Marc Edwards has an approval rating of 25% among Diamond Offshore Drilling's employees. This puts Marc Edwards in the bottom 10% of approval ratings compared to other CEOs of publicly-traded companies.
Who are some of Diamond Offshore Drilling's key competitors?
Some companies that are related to Diamond Offshore Drilling include Helmerich & Payne (HP), Patterson-UTI Energy (PTEN), Nabors Industries (NBR), Pioneer Energy Services (PESXQ) and Vantage Drilling (VTGDF). View all of DO's competitors.
What other stocks do shareholders of Diamond Offshore Drilling own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Diamond Offshore Drilling investors own include Bank of America (BAC), Transocean (RIG), Intelsat (I), Cabot Oil & Gas (COG), AMC Entertainment (AMC), Fossil Group (FOSL), Ciena (CIEN), Synergy Pharmaceuticals (SGYP), Chaarat Gold (CGH) and Associated British Foods (ABF)..
What is Diamond Offshore Drilling's stock symbol?
Diamond Offshore Drilling trades on the New York Stock Exchange (NYSE) under the ticker symbol "DO."
Referenced Symbols
Shares of Diamond Offshore Drilling Inc. do plummeted 61% toward a record low in premarket trading Monday, after the oil driller said it has filed for bankruptcy in the Southern District of Texas.
About the Author
Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter @TomiKilgore.
Better-than-expected full-year results and a growing backlog weren't enough to outweigh investors' concerns about the state of the oil market
Born and raised in the Deep South of Georgia, Jason now calls Southern California home. A Fool since 2006, he began contributing to Fool.com in 2012. Trying to invest better? Like learning about companies with great (or really bad) stories? Jason can usually be found there, cutting through the noise and trying to get to the heart of the story.
What happened
Shares of offshore drilling contractor Diamond Offshore Drilling ( OTC:DO) are down 9.8% at 12:25 p.m. EST today, following the release of the company's fourth-quarter and full-year 2019 results before market open.
So what
Diamond continues to lose money -- that was expected in what remains a tough environment for offshore drillers -- but the company did show important progress in cutting those losses and growing its backlog. Diamond also generated positive operating cash flow in 2019, though at a lower rate than the prior year.
Now what
Admittedly, I've been expecting offshore drilling stocks to recover for more than a year now, but persistently low oil prices, along with steadily expanding development of onshore shale oil has continued to keep offshore investment at low levels.
