DO - Diamond Offshore Drilling, Inc.

NYSE - Nasdaq Real Time Price. Currency in USD
0.9384
0.0000 (0.00%)
At close: 4:02PM EDT
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Previous Close0.8300
Open0.9800
Bid0.3800 x 2900
Ask0.3399 x 1000
Day's Range0.8625 - 1.0700
52 Week Range0.6700 - 9.3800
Volume542,480
Avg. Volume7,605,919
Market Cap129.221M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateMay 04, 2020 - May 08, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est2.67
  • Oilprice.com

    CEOs Bank Big Bonuses As Oil Companies Go Bankrupt

    The oil and gas industry has taken a dark turn in recent months, with many producers filing for bankruptcy, though CEOs are still getting massive payouts

  • More companies will file for chapter 11 in the near future: Gordian Group President
    Yahoo Finance Video

    More companies will file for chapter 11 in the near future: Gordian Group President

    The coronavirus hit retailers hard, causing businesses to file for bankruptcy across the world. Peter Kaufman, Gordian Group President joins Yahoo Finance’s On The Move panel to weigh in on the differences between chapter 7 and chapter 11 bankruptcy.

  • Bloomberg

    Coronavirus Bails Out the Oil Patch

    (Bloomberg Opinion) -- The huge financial aid package enacted by Congress this spring entailed a sprawling array of programs to direct funding, guarantee loans, relieve debt and more to support businesses laid low by a global pandemic. It also opened the door to a money grab. As a result, hundreds of millions of dollars are likely to end up in the pockets of oil and coal investors and executives in what may be the biggest campaign donor payoff in U.S. history.Failing oil and coal companies quickly moved to exploit the bailout as a financial lifeline. They had help. Seventeen Republican senators sent a letter in April to the Federal Reserve, effectively urging the use of coronavirus rescue funds to bail out bad coal and oil debt.In a separate letter to President Donald Trump, a group of three dozen senators and representatives argued that banks should be punished for “discriminating against America’s energy sector” by denying financing to sinking fossil fuel companies. Conservatives have long demanded that the market should decide such matters. But the oil patch plays by different political rules.Funneling taxpayer funds to failing companies in a declining industry that wreaks trillions of dollars in damage on the environment is not an easily justified investment. Yet the Federal Reserve, which sets loan guidelines for some of the rescue package, changed the rules of its “Main Street” lending program to allow companies to use taxpayer loans to pay off existing debt instead of retaining workers.Under pressure from Republicans, the Federal Reserve also increased the maximum loan amount in the Main Street program to $200 million. At the same time, the rules were tweaked so that credit ratings could be ignored. A separate bond buyback plan could end up bailing out 90 fossil fuel producers along with 150 electric utilities that have financial exposure to the sector, according to one analysis.In addition, a small business assistance program intended for mom and pop companies was raided early by coal and oil companies, which collected a combined $50 million. Three of the bailed-out companies have employed executives who have worked in the Trump administration, including the scandal-tarred former Environmental Protection Agency administrator, Scott Pruitt.When Democrats in Congress complained about public subsidy of environmental degradation and business failure, the Fed insisted that its program changes were not targeted to help coal, oil and gas companies. However, oil-state senators and Secretary of Energy Dan Brouillette couldn’t help bragging that the goal was exactly that.The largesse has little to do with preserving jobs. Coal and oil companies had already begun large-scale layoffs, and they won’t bring those workers back no matter how much money the government showers on them. The reason is elementary: The market wants less of their product. Some shale-oil drillers are paying to have oil taken off their hands because they have no place to store it. The rig count in the Permian Basin, around West Texas, fell by 50 percent in the past five weeks. As new wells are completed, employment will fall further. The decline in fossil energy long preceded Covid-19. Most of the nation’s coal companies had been through at least one bankruptcy. Shale oil producers lost a collective $189 billion over the past decade. In 10 of the last 11 years the oil industry was the largest issuer of junk bonds.The rationale behind the giveaways to favored oil, coal and gas interests isn’t economic, it’s simple smash-and-grab. According to Bloomberg News, Diamond Offshore Drilling Inc. obtained a $9.7 million tax refund through the rescue package. Then, it turned around and requested that a bankruptcy judge authorize that same amount in bonuses for nine executives.Republicans intend to redirect hundreds of millions from American workers into the pockets of investors who made bad bets on failing oil and coal companies. The source of the oil slick is in the swamp.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Carl Pope is a former chairman of the Sierra Club, an adviser to Michael R. Bloomberg and the author, with Bloomberg, of "Climate of Hope."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Business Wire

    ATTENTION DIAMOND OFFSHORE DRILLING EMPLOYEES/INVESTORS: KlaymanToskes Commences Investigation into Damages Sustained During Coronavirus Pandemic in Diamond Offshore Drilling Stock with Full-Service Brokerage Firms

    KlaymanToskes ("KT"), www.klaymantoskes.com, announced today that it is investigating the damages sustained during the Coronavirus ("COVID-19") pandemic by employees and investors who held large positions in Diamond Offshore Drilling (NYSE:DO) stock at full-service brokerage firms. Investment portfolios holding large positions can carry significant downside risks. The investigation focuses on full-service brokerage firms’ negligence and mismanagement of large positions that resulted in employees and investors suffering substantial losses.

  • Loews (L) Q1 2020 Earnings Call Transcript
    Motley Fool

    Loews (L) Q1 2020 Earnings Call Transcript

    Ladies and gentlemen, thank you for standing by, and welcome to Loews Corporation's first- quarter 2020 earnings conference call. It is now my pleasure to turn the call over to Mary Skafidas to begin. Thank you, Maria, and good morning, everyone, and welcome to Loews Corporation's first-quarter earnings conference call.

  • Leveraged-Loan Investors Let Companies Take the Wheel
    Bloomberg

    Leveraged-Loan Investors Let Companies Take the Wheel

    (Bloomberg Opinion) -- Last week, Moody’s Investors Service published its quarterly report on covenant quality in leveraged loans. As usual, it painted a grim picture, with deals in the final three months of 2019 offering the worst investor protections ever seen.Its release has traditionally been yet another opportunity for market observers (myself included) to shake their heads at overeager investors so desperate for yield that they’re willing to give up typical safeguards. “If and when the credit cycle turns and the losses mount, they’ll have no one to blame but themselves,” I wrote on Jan. 24. “There’s no going back now: The risky debt markets are full of cov-lite deals. Investors either have to acclimate to that reality or get out of high-yield and leveraged loans,” I noted on Feb. 18, a week before markets began an epic free fall.Obviously, we’re well past the point of scolding now. Since late February, leveraged-loan prices tumbled from 97 cents on the dollar to as little as 76 cents. While they’ve recovered to 86 cents, loan mutual funds are still hemorrhaging cash and credit-rating companies are still downgrading swaths of companies that might not survive the coronavirus pandemic and economic shutdown. That, in turn, is starting to send shockwaves through the $700 billion collateralized loan obligation market, where a growing share of investors in the riskiest equity portions are seeing payments cut off to protect those in the structure’s top-rated tranches, which famously never defaulted during the last recession. The feeling of a cascading effect is palpable.As of now, the Federal Reserve has shown little appetite to forcefully intervene in this risky debt market. Yes, the central bank expanded its Term Asset-Backed Securities Loan Facility last month to include top-rated tranches of new CLOs. And it’s true that the recent widening of its lending facility for small and medium-size businesses would theoretically reach more distressed borrowers. However, some analysts have speculated that companies might be better off just defaulting and seeking bankruptcy protection now rather than kick the proverbial can down the road on their debt and deal with the facility’s limitations on certain corporate actions. Creditors might not be so keen on such a strategy. But it looks as if they won’t have as much say as in the past — one of the lasting consequences of eroding covenant quality. It suggests that if a wave of defaults and downgrades is averted, it’ll have to come first and foremost from C-suite decisions rather than from investors looking to maximize returns.“Having looser covenants takes that seat at the table away and lets the company manage its way through its distress,” Evan Friedman, head of covenant research at Moody’s, said in an interview. “That’s really what has been happening over the past decade with low default rates, more money coming in and a mandate to put that money to work — investors have forfeited that seat at the table and put more faith in the ability of these companies to manage their distress.”It’s still early days in the Covid-19 shakeout, but struggling companies are starting to pile up. In an April 22 report, Fitch Ratings cited Intelsat Investments, JC Penney Co. and Ultra Resources as just a few companies on their “Top Loans of Concern” list that missed interest payments while also accurately predicting that Neiman Marcus Group would default. Throughout corporate America, 71 U.S. companies with liabilities of more than $50 million have filed for bankruptcy already this year. That includes 19 in April, such as Cinemex Holdings USA Inc., Diamond Offshore Drilling Inc. and Frontier Communications Corp. J. Crew, which has become almost a verb in finance after the company put its brand name and other intellectual property into an entity beyond the reach of its existing lenders, also filed for bankruptcy.Covenant Review, a credit research firm, heralded the “return of the J. Crew Blocker” in a recent loan deal from Gap Inc. But the risk of a company “pulling a J. Crew” is just one of many worries in a market saturated with weak safeguards. “Top concerns for investors during these turbulent market conditions: the pursuit of distressed exchanges, the shifting of valuable collateral outside the control of creditors, and revolving lenders gaining an upper hand over institutional term lenders,” according to Moody’s.Yet the most troubling trend this time around, which the credit-rating firm has highlighted for years, is that a growing share of the market consists of companies that only ever borrowed with loans, rather than also issuing unsecured bonds. Leveraged loans usually fare quite well in a restructuring, recovering 77 cents on the dollar on average. But first-lien cov-lite loan debt cushions fell by almost half since 2010, to 17.9% from 33.2%, which is why Moody’s now sees 60% as a more likely recovery rate.“Leveraged loans did well in the last downturn in part just because there was a lot of junior capital on the balance sheet and they were often senior unsecured and senior subordinated bonds,” Christina Padgett, head of leveraged finance at Moody’s, said in an interview. “We haven’t seen a real history of distressed exchanges within bank-loan-only structures, but we expect that to be the case.”It’s hard to see what breaks this downward spiral. Among the alphabet soup of outlooks, some have contemplated a K-shaped path forward, with certain companies and segments of the economy bouncing back quickly while others crumble. As each day goes by with heavily indebted firms shuttered, leveraged loans look as if they’ll be part of the lower leg.Padgett noted that finding a way to push out a restructuring beyond the depths of a economic downturn could benefit both lenders and creditors: Investors get a better recovery rate, while companies receive a higher valuation. Meanwhile, private-equity firms are often able to come up with ways to keep a company viable, she said. There are certainly stories like this in the market. Bloomberg News recently singled out Surgery Partners Inc., a sprawling network of outpatient clinics that’s majority-owned by Bain Capital. It received a $120 million lifeline from investors in mid-April even though its outstanding loan signaled expectations for default in late March. “It all has worked out so fortuitously for the creditors and equity holders of Surgery Partners,” the reporters noted.This seems unlikely to be the norm. Just because April marked a banner month for risky debt doesn’t mean leveraged loans will return to their glory days. Creditors will surely be more vigilant — maybe they’ll keep an operator of surgical facilities afloat, but will be less inclined to hand over money to fledgling retailers or energy companies. Add to that the proliferation of cov-lite deals, and investors have little choice but to let companies take the wheel. For now, they’re just along for the ride.(Updates seventh paragraph to reflect that J. Crew filed for bankruptcy.)This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Diamond Offshore files for bankruptcy, U.S. oil prices fall 25%
    Yahoo Finance Video

    Diamond Offshore files for bankruptcy, U.S. oil prices fall 25%

    Diamond Offshore Drilling announced its decision to file for bankruptcy. Yahoo Finance’s Jared Blikre joins the On The Move panel to discuss.

  • Diamond Offshore (DO) Q4 Earnings & Revenues Top Estimates
    Zacks

    Diamond Offshore (DO) Q4 Earnings & Revenues Top Estimates

    Diamond Offshore (DO) expects cash flow to be in the negative territory in 2020.

  • Thomson Reuters StreetEvents

    Edited Transcript of DO earnings conference call or presentation 10-Feb-20 2:00pm GMT

    Q4 2019 Diamond Offshore Drilling Inc Earnings Call

  • What's in the Cards for Loews (L) This Earnings Season?
    Zacks

    What's in the Cards for Loews (L) This Earnings Season?

    Loews (L) Q4 earnings are likely to have gained from better performance at CNA Financial, Loews Hotels and Boardwalk Pipeline.

  • Earnings Preview: Diamond Offshore Drilling (DO) Q4 Earnings Expected to Decline
    Zacks

    Earnings Preview: Diamond Offshore Drilling (DO) Q4 Earnings Expected to Decline

    Diamond Offshore Drilling (DO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Options Traders Expect Huge Moves in Diamond Offshore Drilling (DO) Stock
    Zacks

    Options Traders Expect Huge Moves in Diamond Offshore Drilling (DO) Stock

    Investors need to pay close attention to Diamond Offshore Drilling (DO) stock based on the movements in the options market lately.

  • US Oil Drillers Add Rigs Despite Conservative Capital Budget
    Zacks

    US Oil Drillers Add Rigs Despite Conservative Capital Budget

    Domestic oil drillers may again remove rigs since explorers have decided to curb spending on the drilling of new wells for the second straight year in 2020.

  • Oil Drillers Add Rigs in Permian Basin and Eagle Ford Shale
    Zacks

    Oil Drillers Add Rigs in Permian Basin and Eagle Ford Shale

    Domestic drillers may again remove rigs since explorers have a conservative capital budget in place and have decided to curb spending on drilling new wells.

  • US Oil Drillers Spend Conservatively: Rig Count Slides Again
    Zacks

    US Oil Drillers Spend Conservatively: Rig Count Slides Again

    Domestic drillers may continue to remove rigs since explorers have a conservative capital budget in place and have decided to curb spending on the drilling of new wells.

  • Oil Drillers Keep Removing Rigs From Permian & Cana Woodford
    Zacks

    Oil Drillers Keep Removing Rigs From Permian & Cana Woodford

    Domestic drillers may continue to remove rigs since explorers have a conservative capital budget in place and have decided to curb spending on drilling new wells.

  • Drillers Remove Oil Rigs in Permian and Cana Woodford Basins
    Zacks

    Drillers Remove Oil Rigs in Permian and Cana Woodford Basins

    Domestic drillers may continue to remove rigs since explorers have a conservative capital budget in place and have decided to curb spending on drilling new wells.

  • Drillers Add Oil Rigs in Permian & Eagle Ford Shale Play
    Zacks

    Drillers Add Oil Rigs in Permian & Eagle Ford Shale Play

    Since February 2018, drillers in the United States have added the highest number of rigs in a week.

  • Drillers in US Plays Add Oil Rigs Despite Conservative Budget
    Zacks

    Drillers in US Plays Add Oil Rigs Despite Conservative Budget

    In Permian, drillers lower rigs in seven of eight weeks.

  • Those Who Purchased Diamond Offshore Drilling (NYSE:DO) Shares Five Years Ago Have A 84% Loss To Show For It
    Simply Wall St.

    Those Who Purchased Diamond Offshore Drilling (NYSE:DO) Shares Five Years Ago Have A 84% Loss To Show For It

    Some stocks are best avoided. It hits us in the gut when we see fellow investors suffer a loss. Spare a thought for...

  • Oil Drillers Remove Rigs From Permian Basin & Cana Woodford
    Zacks

    Oil Drillers Remove Rigs From Permian Basin & Cana Woodford

    In the Permian Basin, oil drillers remove rigs for seven weeks in a row.

  • Oil Drillers Remove Rigs From Permian Basin & DJ-Niobrara
    Zacks

    Oil Drillers Remove Rigs From Permian Basin & DJ-Niobrara

    Domestic drillers may continue to lower rigs in the oil patches as they are spending conservatively.

  • Diamond Offshore Drilling (DO) Down 4.5% Since Last Earnings Report: Can It Rebound?
    Zacks

    Diamond Offshore Drilling (DO) Down 4.5% Since Last Earnings Report: Can It Rebound?

    Diamond Offshore Drilling (DO) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • The Zacks Analyst Blog Highlights: Baker Hughes, Halliburton, Schlumberger, Diamond Offshore and Transocean
    Zacks

    The Zacks Analyst Blog Highlights: Baker Hughes, Halliburton, Schlumberger, Diamond Offshore and Transocean

    The Zacks Analyst Blog Highlights: Baker Hughes, Halliburton, Schlumberger, Diamond Offshore and Transocean

  • Oil Drillers Continue to Remove Rigs From Permian Basin
    Zacks

    Oil Drillers Continue to Remove Rigs From Permian Basin

    The count of oil rigs in the Permian fell for five consecutive weeks.