Ocean Rig UDW Inc. (ORIG) Downgraded to Buy at ValuEngine
ValuEngine downgraded shares of Ocean Rig UDW Inc. (NASDAQ:ORIG) from a strong-buy rating to a buy rating in a report issued on Monday.
Separately, Zacks Investment Research lowered shares of Ocean Rig UDW from a buy rating to a hold rating in a research note on Wednesday, June 21st.
Ocean Rig UDW (ORIG) opened at 23.49 on Monday. Ocean Rig UDW has a 12-month low of $20.22 and a 12-month high of $26,588.00. The stock’s market capitalization is $1.94 billion. The stock has a 50 day moving average price of $1,215.94 and a 200-day moving average price of $1,985.06.
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A number of hedge funds and other institutional investors have recently modified their holdings of ORIG. California Public Employees Retirement System increased its position in Ocean Rig UDW by 25.4% in the 1st quarter. California Public Employees Retirement System now owns 2,113,100 shares of the oil and gas company’s stock worth $603,000 after purchasing an additional 428,600 shares during the last quarter. KCG Holdings Inc. purchased a new stake in shares of Ocean Rig UDW during the 1st quarter worth about $149,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Ocean Rig UDW by 109.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 650,943 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 339,692 shares in the last quarter. Hedge funds and other institutional investors own 9.25% of the company’s stock.
Ocean Rig UDW Company Profile
Ocean Rig UDW Inc is a Cyprus-based offshore drilling contractor that provides oilfield services for oil and gas exploration, development and production drilling, and specializes in the ultra-deepwater and harsh-environment segment of the drilling industry. The Company owns and operates approximately 13 offshore ultra deepwater drilling units, comprising of ultra deepwater semisubmersible drilling rigs and ultra deepwater drill-ships.
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