Diamond Offshore Drilling (DO) Shares Fall 4%

Shares of Diamond Offshore Drilling Inc DOclosed Monday trading down 3.98% at $67.74 per share. Volume of 2.8 million shares was 1.18 times higher than the daily average volume of nearly 2.4 million shares. The day's trading range for shares of Diamond Offshore Drilling Inc was between $67.53 and $70.98 per share. Earlier, J.P. Morgan lowered the price target for shares of of Diamond Offshore Drilling Inc to $79 per share, while maintaining a rating of Underweight. J.P. Morgan analysts said that although the stock was not cheap, its 9.2% annual dividend could make Diamond Offshore Drilling Inc a defensive investment.