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Investment analysts at Jefferies Group decreased their target price on shares of Diamond Offshore Drilling (NYSE:DO) from $62.00 to $53.00 in a note issued to investors on Friday, ARN reports. Jefferies Group’s target price would suggest a potential upside of 15.04% from the company’s current price.

Several other analysts have also recently commented on the stock. Analysts at Global Hunter Securities downgraded shares of Diamond Offshore Drilling from a “neutral” rating to a “sell” rating in a research note to investors on Friday. They now have a $38.00 price target on the stock, down previously from $61.00. Separately, analysts at Iberia Capital downgraded shares of Diamond Offshore Drilling from a “sector perform” rating to an “underperform” rating in a research note to investors on Thursday. They now have a $30.00 price target on the stock, down previously from $53.00. Finally, analysts at Wunderlich downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They now have a $50.00 price target on the stock, down previously from $77.00. Eight research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $62.54.

Diamond Offshore Drilling (NYSE:DO) traded down 2.62% during mid-day trading on Friday, hitting $46.07. 4,563,279 shares of the company’s stock traded hands. Diamond Offshore Drilling has a one year low of $45.24 and a one year high of $76.08. The stock has a 50-day moving average of $53.21 and a 200-day moving average of $60.75. The company has a market cap of $6.405 billion and a P/E ratio of 10.75.

Diamond Offshore Drilling (NYSE:DO) last released its earnings data on Thursday, February 6th. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.80 by $0.13. The company had revenue of $707.97 million for the quarter, compared to the consensus estimate of $705.35 million. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts predict that Diamond Offshore Drilling will post $4.79 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, March 3rd. Stockholders of record on Wednesday, February 19th will be given a dividend of 0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Friday, February 14th.

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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