Ocean Rig UDW (ORIG) Upgraded at BidaskClub
Ocean Rig UDW (NASDAQ:ORIG) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday.
Separately, ValuEngine cut Ocean Rig UDW from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Ocean Rig UDW currently has an average rating of “Buy” and a consensus price target of $30.00.
Shares of ORIG stock opened at $34.48 on Wednesday. The firm has a market cap of $3.08 billion, a P/E ratio of 11.55 and a beta of 1.57. Ocean Rig UDW has a 1 year low of $21.00 and a 1 year high of $34.88. The company has a quick ratio of 11.01, a current ratio of 11.01 and a debt-to-equity ratio of 0.16.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in shares of Ocean Rig UDW by 24.2% in the second quarter. Legal & General Group Plc now owns 21,250 shares of the oil and gas company’s stock worth $626,000 after acquiring an additional 4,144 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Ocean Rig UDW in the second quarter worth $215,000. Amalgamated Bank acquired a new position in shares of Ocean Rig UDW in the second quarter worth $218,000. Aviva PLC acquired a new position in shares of Ocean Rig UDW in the second quarter worth $235,000. Finally, Janney Capital Management LLC raised its holdings in shares of Ocean Rig UDW by 78.3% in the second quarter. Janney Capital Management LLC now owns 18,407 shares of the oil and gas company’s stock worth $543,000 after acquiring an additional 8,082 shares during the last quarter. 86.09% of the stock is owned by institutional investors.
Ocean Rig UDW Company Profile
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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