Senior Vice President and Chief Financial Officer Dominic Savarino has sold 13,000 shares of Diamond Offshore Drilling Inc (DO, Financial) on March 19, 2024, according to a recent SEC filing. The transaction was executed at an average price of $13.16 per share, resulting in a total value of $171,080.
Diamond Offshore Drilling Inc is a leader in offshore drilling, providing contract drilling services to the energy industry around the globe with a total fleet of offshore drilling rigs. Its fleet consists of semisubmersibles, dynamically positioned drillships, and deepwater drilling rigs. The company's drilling services enable its clients to access a range of well types and geographies, which include complex deepwater and harsh environment drilling. The company's clients are typically major oil and gas companies, as well as independent oil and gas companies and government-owned oil and gas companies.
Over the past year, the insider has sold a total of 41,063 shares of Diamond Offshore Drilling Inc and has not made any purchases of the stock. The recent sale by Dominic Savarino represents a continuation of the selling trend observed among the company's insiders.
The insider transaction history for Diamond Offshore Drilling Inc shows a pattern of insider sales over the past year, with 7 insider sells and no insider buys recorded. This could suggest that insiders have been consistently reducing their holdings in the company over the given period.
On the date of the insider's most recent transaction, shares of Diamond Offshore Drilling Inc were trading at $13.16, giving the company a market capitalization of approximately $1.36 billion.
Investors often monitor insider selling and buying as it can provide insights into a company's future prospects from those best positioned to assess its performance. However, insider transactions are not necessarily indicative of future stock performance and can be influenced by a variety of factors.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
