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The market was not especially good to offshore drilling stocks last week, with each of the five that I track in my weekly performance review being down over the five day period. As usual, though, they were not all affected the same way.

SeaDrill (NYSE:SDRL) opened on Monday, March 19 at $38.60. The stock closed at $37.56 in after hours trading on Friday, March 23. This gives the stock a loss of $1.04 or 2.70% this week. I began tracking the weekly returns of the offshore drilling industry on March 5, 2012. SeaDrill opened at $39.70 on that date. This gives the stock a three week loss of $2.14 per share or 5.39%. SeaDrill went ex-dividend during the three week period and paid a dividend of $0.80 per share to shareholders as of the ex-dividend date. If we back that out of the capital loss, SeaDrill shareholders suffered a gross loss of $1.34 or 3.38% over the three week period.

SDRL 5-Day Chart

Source: Fidelity Investments

SDRL 3-Week Chart

Source: Fidelity Investments

Ensco (NYSE:ESV) opened at $58.28 on Monday, March 19. The stock closed at $54.51 in after hours trading on Friday, March 23. This gives the stock a loss of $3.77 or 6.47% over the week. The stock opened at $56.99 on March 5. The stock thus had a three-week loss of $2.48 or 4.35% over the period. Ensco also went ex-dividend during the three week period. The company will be paying a dividend of $0.375 per share to investors who held the stock on the March 12 ex-dividend date. If we back that out of the period loss, Ensco shareholders experienced a gross loss of $2.105 or 3.69% over the three-week period.

ESV 5-Day Chart

Source: Fidelity Investments

ESV 3-Week Chart

Source: Fidelity Investments

Transocean (NYSE:RIG) opened at $58.14 on Monday, March 19. The stock closed at $56.00 in after hours trading on Friday, March 23. This gives the stock a loss of $2.14 or 3.68% this week. The stock opened at $54.15 on March 5. This gives Transocean a three-week gain of $1.85 or 3.42% over the period.

RIG 5-Day Chart

Source: Fidelity Investments

RIG 3-Week Chart

Source: Fidelity Investments

Diamond Offshore (NYSE:DO) opened at $72.52 on Monday, March 19. The stock closed at $69.20 in after hours trading on Friday, March 23. This gives the stock a loss of $3.32 per share or 4.58% for the week. The stock opened at $68.79 on Monday, March 5. The stock thus had a three-week gain of $0.41 per share or 0.60%.

DO 5-Day Chart

Source: Fidelity Investments

DO 3-Week Chart

Source: Fidelity Investments

Atwood Oceanics (NYSE:ATW) opened at $48.59 on Monday, March 19. The stock closed at $47.45 in after hours trading on Friday, March 23. This gives the stock a loss of $1.14 per share or 2.35% for the week. Atwood opened at $48.32 on March 5. Thus, shareholders in the company suffered a loss of $0.87 or 1.80% over the three-week period.

ATW 5-Day Chart

Source: Fidelity Investments

ATW 3-Week Chart

Source: Fidelity Investments

Atwood Oceanics proved to be the best performer this week with SeaDrill in a close second. Shareholders in all five companies suffered a loss for the week, though. Ensco was the worst performer this week as it fell 6.47%. Transocean proved to be the best performing stock over the three-week period. The stock gained 3.42% during the period. Diamond Offshore was the only other company whose stock delivered positive returns during this three week period. Ensco was the worst performing stock during the period after adjusting for dividends.

As I stated in the first article in this series, I intend to continue providing weekly updates on these offshore drilling stocks throughout the current industry upcycles. I welcome suggestions to improve future performance updates.

Disclosure: I am long SDRL.

Source: Weekly Performance Update On 5 Offshore Drilling Stocks