Ocean Rig UDW (ORIG) Upgraded to “Buy” at ValuEngine
Ocean Rig UDW (NASDAQ:ORIG) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.
Separately, DNB Markets upgraded Ocean Rig UDW from a “hold” rating to a “buy” rating in a report on Monday, October 23rd.
Shares of Ocean Rig UDW (NASDAQ ORIG) opened at $24.10 on Friday. Ocean Rig UDW has a 1-year low of $20.22 and a 1-year high of $40.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.61 and a current ratio of 4.61.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC purchased a new stake in shares of Ocean Rig UDW in the third quarter valued at $640,000. Ameriprise Financial Inc. purchased a new stake in shares of Ocean Rig UDW in the third quarter valued at $1,928,000. Calamos Advisors LLC purchased a new stake in shares of Ocean Rig UDW in the third quarter valued at $3,106,000. Phoenix Investment Adviser LLC purchased a new stake in shares of Ocean Rig UDW in the third quarter valued at $7,645,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Ocean Rig UDW by 109.1% in the second quarter. Goldman Sachs Group Inc. now owns 650,943 shares of the oil and gas company’s stock valued at $103,000 after purchasing an additional 339,692 shares in the last quarter. Institutional investors own 80.12% of the company’s stock.
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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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