Shares of Ocean Rig UDW Inc. (NASDAQ:ORIG) have received an average recommendation of “Hold” from the twelve ratings firms that are presently covering the company. Six analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $1.12.
ORIG has been the subject of several research analyst reports. Zacks Investment Research raised Ocean Rig UDW from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. Deutsche Bank AG lowered Ocean Rig UDW from a “buy” rating to a “hold” rating and dropped their price objective for the company from $4.00 to $1.00 in a research note on Tuesday, August 16th. Finally, Evercore ISI reissued a “hold” rating on shares of Ocean Rig UDW in a research note on Thursday, June 30th.
Several large investors have recently added to or reduced their stakes in ORIG. KCG Holdings Inc. bought a new stake in Ocean Rig UDW during the second quarter worth $128,000. Acrospire Investment Management LLC bought a new stake in Ocean Rig UDW during the second quarter worth $136,000. Parametric Portfolio Associates LLC bought a new stake in Ocean Rig UDW during the second quarter worth $137,000. Highbridge Capital Management LLC bought a new stake in Ocean Rig UDW during the second quarter worth $165,000. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in Ocean Rig UDW during the second quarter worth $170,000. 17.66% of the stock is owned by institutional investors.
Shares of Ocean Rig UDW (NASDAQ:ORIG) traded down 2.82% during midday trading on Friday, hitting $0.86. The stock had a trading volume of 209,433 shares. Ocean Rig UDW has a 1-year low of $0.66 and a 1-year high of $3.38. The firm’s 50-day moving average price is $0.81 and its 200-day moving average price is $1.68.
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 company earned $452.60 million during the quarter, compared to analyst estimates of $376.45 million. Ocean Rig UDW had a return on equity of 14.78% and a net margin of 21.68%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.54 earnings per share. On average, equities analysts expect that Ocean Rig UDW will post $2.99 earnings per share for the current year.
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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