Diamond Offshore Drilling, Inc. (NYSE:DO) received a $15.00 price target from analysts at Jefferies Group LLC in a note issued to investors on Monday. The brokerage currently has a “hold” rating on the offshore drilling services provider’s stock. Jefferies Group LLC’s price objective suggests a potential downside of 10.34% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Pareto Securities raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, August 18th. Seaport Global Securities reaffirmed a “sell” rating on shares of Diamond Offshore Drilling in a research note on Monday, July 31st. FBR & Co raised Diamond Offshore Drilling from a “sell” rating to a “neutral” rating and set a $13.00 price objective for the company in a research note on Tuesday, October 10th. Cowen and Company reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Diamond Offshore Drilling in a research note on Tuesday, September 5th. Finally, Royal Bank Of Canada raised Diamond Offshore Drilling from an “underperform” rating to a “sector perform” rating and set a $15.00 price objective for the company in a research note on Friday, August 25th. Nine analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $14.73.

Shares of Diamond Offshore Drilling (NYSE:DO) traded down 3.35% during trading on Monday, hitting $16.73. The stock had a trading volume of 4,263,421 shares. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 13.60 and a beta of 1.18. The firm has a 50 day moving average price of $14.58 and a 200-day moving average price of $12.83. Diamond Offshore Drilling has a 52 week low of $10.06 and a 52 week high of $22.65.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $366.02 million during the quarter, compared to analyst estimates of $365.38 million. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, equities research analysts forecast that Diamond Offshore Drilling will post $0.90 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This article was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/10/31/jefferies-group-llc-reiterates-15-00-price-target-for-diamond-offshore-drilling-inc-do.html.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Diamond Offshore Drilling by 22.0% in the second quarter. BlackRock Inc. now owns 9,209,573 shares of the offshore drilling services provider’s stock worth $99,741,000 after buying an additional 1,658,687 shares during the period. Contrarius Investment Management Ltd raised its holdings in shares of Diamond Offshore Drilling by 99.0% in the second quarter. Contrarius Investment Management Ltd now owns 6,606,440 shares of the offshore drilling services provider’s stock worth $71,548,000 after buying an additional 3,286,580 shares during the period. Equity Investment Corp Acquisition Inc raised its holdings in shares of Diamond Offshore Drilling by 76.1% in the second quarter. Equity Investment Corp Acquisition Inc now owns 4,566,588 shares of the offshore drilling services provider’s stock worth $49,456,000 after buying an additional 1,973,653 shares during the period. State Street Corp raised its holdings in shares of Diamond Offshore Drilling by 27.3% in the second quarter. State Street Corp now owns 3,021,468 shares of the offshore drilling services provider’s stock worth $32,721,000 after buying an additional 648,077 shares during the period. Finally, Horseman Capital Management Ltd purchased a new stake in shares of Diamond Offshore Drilling in the third quarter worth approximately $30,944,000.

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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

Receive News & Ratings for Diamond Offshore Drilling Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling Inc. and related companies with MarketBeat.com's FREE daily email newsletter.