California Public Employees Retirement System boosted its stake in Ocean Rig UDW Inc. (NASDAQ:ORIG) by 25.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,113,100 shares of the oil and gas company’s stock after buying an additional 428,600 shares during the period. California Public Employees Retirement System’s holdings in Ocean Rig UDW were worth $603,000 as of its most recent filing with the SEC.

Shares of Ocean Rig UDW Inc. (ORIG) traded down 7.8286% during trading on Friday, hitting $0.1613. 683,880 shares of the company were exchanged. Ocean Rig UDW Inc. has a 1-year low of $0.12 and a 1-year high of $2.89. The company has a 50 day moving average of $0.18 and a 200-day moving average of $0.41.

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ORIG has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Ocean Rig UDW from a “hold” rating to a “buy” rating and set a $0.25 target price for the company in a research note on Thursday, May 25th. ValuEngine lowered shares of Ocean Rig UDW from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.

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.

Institutional Ownership by Quarter for Ocean Rig UDW (NASDAQ:ORIG)

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