Ocean Rig UDW Inc. (NASDAQ:ORIG) has received a consensus recommendation of “Hold” from the twelve ratings firms that are covering the stock. Six research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $1.12.
Several equities analysts have issued reports on ORIG shares. Zacks Investment Research raised shares of Ocean Rig UDW from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Deutsche Bank AG downgraded shares of Ocean Rig UDW from a “buy” rating to a “hold” rating and decreased their price objective for the company from $4.00 to $1.00 in a report on Tuesday, August 16th. Finally, Evercore ISI reaffirmed a “hold” rating on shares of Ocean Rig UDW in a report on Thursday, June 30th.
Institutional investors have recently modified their holdings of the company. Spark Investment Management LLC increased its position in shares of Ocean Rig UDW by 157.5% in the first quarter. Spark Investment Management LLC now owns 1,433,100 shares of the company’s stock worth $1,175,000 after buying an additional 876,549 shares during the period. Geode Capital Management LLC increased its position in shares of Ocean Rig UDW by 57.2% in the first quarter. Geode Capital Management LLC now owns 1,097,547 shares of the company’s stock worth $899,000 after buying an additional 399,500 shares during the period. Lucus Advisors LLC purchased a new position in shares of Ocean Rig UDW during the second quarter worth approximately $336,000. California Public Employees Retirement System increased its position in shares of Ocean Rig UDW by 33.2% in the second quarter. California Public Employees Retirement System now owns 985,000 shares of the company’s stock worth $2,443,000 after buying an additional 245,500 shares during the period. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in shares of Ocean Rig UDW during the second quarter worth approximately $170,000. 17.66% of the stock is currently owned by institutional investors.
Ocean Rig UDW (NASDAQ:ORIG) opened at 0.919 on Friday. Ocean Rig UDW has a one year low of $0.66 and a one year high of $3.38. The company’s 50-day moving average is $0.81 and its 200 day moving average is $1.69.
Ocean Rig UDW (NASDAQ:ORIG) last posted its quarterly earnings data on Thursday, August 11th. The company reported $1.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $1.11. The business had revenue of $452.60 million for the quarter, compared to the consensus estimate of $376.45 million. Ocean Rig UDW had a net margin of 21.68% and a return on equity of 14.78%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. Analysts expect that Ocean Rig UDW will post $2.99 EPS for the current year.
About Ocean Rig UDW
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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