Diamond Offshore Drilling Inc (NYSE:DO) received a $14.00 price target from equities research analysts at Jefferies Group LLC in a report issued on Wednesday. The brokerage currently has a “hold” rating on the offshore drilling services provider’s stock. Jefferies Group LLC’s price target points to a potential upside of 13.91% from the stock’s current price.

DO has been the subject of a number of other research reports. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $18.00 target price on shares of Diamond Offshore Drilling in a research report on Sunday, February 5th. Pareto Securities raised shares of Diamond Offshore Drilling from a “sell” rating to a “hold” rating in a research report on Tuesday, February 7th. BMO Capital Markets reaffirmed a “sell” rating and issued a $14.50 target price on shares of Diamond Offshore Drilling in a research report on Tuesday, April 18th. Zacks Investment Research raised shares of Diamond Offshore Drilling from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a research report on Tuesday, April 11th. Finally, Instinet reaffirmed a “reduce” rating and issued a $14.00 target price on shares of Diamond Offshore Drilling in a research report on Tuesday, February 7th. Eight investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.24.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

Diamond Offshore Drilling (NYSE:DO) traded down 7.25% during trading on Wednesday, reaching $12.29. The company had a trading volume of 7,512,070 shares. Diamond Offshore Drilling has a 12-month low of $12.25 and a 12-month high of $26.72. The firm’s market capitalization is $1.69 billion. The firm’s 50 day moving average price is $14.61 and its 200 day moving average price is $16.64.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, May 1st. The offshore drilling services provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. Diamond Offshore Drilling had a negative net margin of 23.28% and a positive return on equity of 6.33%. The business had revenue of $374.22 million during the quarter, compared to the consensus estimate of $366.03 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s revenue was down 20.5% on a year-over-year basis. Equities research analysts forecast that Diamond Offshore Drilling will post $0.84 EPS for the current year.

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In other Diamond Offshore Drilling news, Director Paul G. Gaffney bought 4,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were purchased at an average cost of $13.67 per share, for a total transaction of $54,680.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.04% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Wellington Shields Capital Management LLC increased its position in shares of Diamond Offshore Drilling by 1.7% in the third quarter. Wellington Shields Capital Management LLC now owns 12,080 shares of the offshore drilling services provider’s stock valued at $213,000 after buying an additional 200 shares during the last quarter. State Treasurer State of Michigan increased its position in shares of Diamond Offshore Drilling by 0.8% in the first quarter. State Treasurer State of Michigan now owns 26,200 shares of the offshore drilling services provider’s stock worth $438,000 after buying an additional 200 shares in the last quarter. Advantus Capital Management Inc increased its position in shares of Diamond Offshore Drilling by 3.0% in the first quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock worth $138,000 after buying an additional 242 shares in the last quarter. Stephens Inc. AR increased its position in shares of Diamond Offshore Drilling by 0.5% in the first quarter. Stephens Inc. AR now owns 55,534 shares of the offshore drilling services provider’s stock worth $928,000 after buying an additional 264 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Diamond Offshore Drilling by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 22,573 shares of the offshore drilling services provider’s stock worth $377,000 after buying an additional 300 shares in the last quarter.

About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig. Its fleet enables it to offer a range of services, primarily in the floater market, including ultra-deepwater, deepwater and mid-water.

12 Month Chart for NYSE:DO

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