Ocean Rig UDW (ORIG) Reaches New 12-Month High at $34.83
Ocean Rig UDW Inc (NASDAQ:ORIG)’s share price reached a new 52-week high on Monday . The company traded as high as $34.83 and last traded at $33.94, with a volume of 77884 shares. The stock had previously closed at $34.55.
A number of equities analysts have weighed in on ORIG shares. ValuEngine raised Ocean Rig UDW from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 4th. BidaskClub raised Ocean Rig UDW from a “hold” rating to a “buy” rating in a research report on Wednesday, June 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $30.00.
The company has a debt-to-equity ratio of 0.16, a current ratio of 11.01 and a quick ratio of 11.01. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 11.55 and a beta of 1.57.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings in shares of Ocean Rig UDW by 24.2% in the 2nd quarter. Legal & General Group Plc now owns 21,250 shares of the oil and gas company’s stock valued at $626,000 after buying an additional 4,144 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Ocean Rig UDW in the 2nd quarter valued at approximately $215,000. Amalgamated Bank acquired a new stake in shares of Ocean Rig UDW in the 2nd quarter valued at approximately $218,000. Aviva PLC acquired a new stake in shares of Ocean Rig UDW in the 2nd quarter valued at approximately $235,000. Finally, Janney Capital Management LLC boosted its holdings in shares of Ocean Rig UDW by 78.3% in the 2nd quarter. Janney Capital Management LLC now owns 18,407 shares of the oil and gas company’s stock valued at $543,000 after buying an additional 8,082 shares during the last quarter. 86.09% of the stock is owned by institutional investors.
About Ocean Rig UDW (NASDAQ:ORIG)
Ocean Rig UDW Inc, an offshore drilling contractor, provides oilfield services for offshore oil and gas exploration, development, and production drilling worldwide. It specializes in the ultra-deepwater and harsh-environment segment of the offshore drilling industry. The company owns and operates two fifth generation harsh weather ultra-deepwater semisubmersible offshore drilling units under the Leiv Eiriksson and Eirik Raude names; five sixth generation ultra-deepwater drilling units under the Ocean Rig Corcovado, the Ocean Rig Olympia, the Ocean Rig Poseidon, and the Ocean Rig Mykonos names; and four seventh generation drilling units under the Ocean Rig Mylos, the Ocean Rig Skyros, the Ocean Rig Athena, and the Ocean Rig Apollo names.
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