Diamond Offshore Drilling (NYSE:DO) has risen sharply, recording gains of 0.74% in the past 4 weeks. However, the stock has corrected -3.62% in the past 1 week, providing a good buying opportunity on dips. Diamond Offshore Drilling (NYSE:DO) : During the past 4 weeks, traders have been relatively bearish on Diamond Offshore Drilling (NYSE:DO), hence the stock is down -0.86% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -4.84% relative to the S&P 500.
The company shares have dropped -1.84% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $26.72 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $24.73 and the 200 Day Moving Average price is recorded at $21.90.
The stock has recorded a 20-day Moving Average of 0.36% and the 50-Day Moving Average is 0.09%.
Diamond Offshore Drilling (NYSE:DO): stock turned positive on Friday. Though the stock opened at $24.31, the bulls momentum made the stock top out at $24.91 level for the day. The stock recorded a low of $24.16 and closed the trading day at $24.5, in the green by 2.00%. The total traded volume for the day was 1,486,262. The stock had closed at $24.02 in the previous days trading.
In an insider trading activity, Grebow Edward, director of Diamond Offshore Drilling Inc had purchased 3,000 shares on August 7, 2015 in a transaction. The price per share was $21.99 and the total amount of the disclosed transaction was $65,970.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Diamond Offshore Drilling, Inc. is a company engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of 38 offshore drilling rigs, including 27 semisubmersibles, six jack-ups and five drillships. The Companys diverse fleet enables the Company to offer a range of services around the world in both the floater market (ultra-deepwater, deepwater and mid-water) and the non-floater, or jack-up, market. The Companys floater fleet (semisubmersibles and drillships) is of three types: ultra-deepwater, deepwater, and mid-water. Jack-up rigs are mobile, self-elevating drilling platforms equipped with legs that are lowered to the ocean floor. The Companys jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of the Companys 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.