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Diamond Offshore Drilling (NYSE:DO) was downgraded by Howard Weil from an “outperform” rating to a “sector perform” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports. They currently have a $75.00 price objective on the stock. Howard Weil’s price objective points to a potential upside of 35.62% from the company’s current price.

Shares of Diamond Offshore Drilling (NYSE:DO) opened at 55.30 on Thursday. Diamond Offshore Drilling has a 52 week low of $54.78 and a 52 week high of $76.85. The stock has a 50-day moving average of $57. and a 200-day moving average of $63.42. The company has a market cap of $7.689 billion and a price-to-earnings ratio of 12.57.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.18 by $0.04. The company had revenue of $691.00 million for the quarter, compared to the consensus estimate of $753.84 million. During the same quarter in the prior year, the company posted $1.28 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts expect that Diamond Offshore Drilling will post $4.56 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on DO. Analysts at Citigroup Inc. downgraded shares of Diamond Offshore Drilling from a “neutral” rating to a “sell” rating in a research note to investors on Friday, December 20th. Separately, analysts at Barclays reiterated an “underweight” rating on shares of Diamond Offshore Drilling in a research note to investors on Tuesday, December 17th. They now have a $72.00 price target on the stock, down previously from $79.00. Finally, analysts at Global Hunter Securities cut their price target on shares of Diamond Offshore Drilling from $70.00 to $61.00 in a research note to investors on Monday, December 16th. Seven investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $71.25.

Diamond Offshore Drilling, Inc is a global offshore oil and gas drilling contractor. The Company has a fleet of 44 offshore drilling rigs, consisting of 32 semisubmersibles, seven jack-ups and five dynamically positioned drillships, four of which are under construction.

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