Ocean Rig UDW Inc. (ORIG) Trading Down 4.4%
Ocean Rig UDW Inc. (NASDAQ:ORIG) traded down 4.4% on Monday . The stock traded as low as $2.11 and last traded at $2.15, with a volume of 1,094,860 shares traded. The stock had previously closed at $2.25.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Ocean Rig UDW from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a report on Saturday, April 30th. Evercore ISI reiterated a “hold” rating on shares of Ocean Rig UDW in a report on Thursday, June 30th. Finally, Deutsche Bank AG upped their target price on Ocean Rig UDW from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, May 24th. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $2.49.
The company has a 50-day moving average of $2.64 and a 200-day moving average of $1.67.
Ocean Rig UDW (NASDAQ:ORIG) last announced its quarterly earnings data on Thursday, May 19th. The company reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.45. The business earned $508 million during the quarter, compared to analysts’ expectations of $424.66 million. During the same period in the prior year, the firm posted $0.31 EPS. Ocean Rig UDW’s revenue for the quarter was up 26.3% compared to the same quarter last year. On average, analysts anticipate that Ocean Rig UDW Inc. will post $2.52 EPS for the current fiscal year.
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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