Shares of Ocean Rig UDW Inc (NASDAQ:ORIG) saw unusually-strong trading volume on Friday . Approximately 7,311,600 shares were traded during trading, an increase of 2,798% from the previous session’s volume of 252,319 shares.The stock last traded at $28.19 and had previously closed at $26.87.

A number of equities analysts have weighed in on ORIG shares. ValuEngine raised shares of Ocean Rig UDW from a “hold” rating to a “buy” rating in a research note on Thursday, March 22nd. BidaskClub raised shares of Ocean Rig UDW from a “hold” rating to a “buy” rating in a research note on Wednesday, June 13th. Finally, Deutsche Bank started coverage on shares of Ocean Rig UDW in a research note on Tuesday, March 20th. They set a “hold” rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $30.00.

The company has a current ratio of 6.86, a quick ratio of 6.86 and a debt-to-equity ratio of 0.15.

Ocean Rig UDW (NASDAQ:ORIG) last announced its quarterly earnings results on Wednesday, May 16th. The oil and gas company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.22. The firm had revenue of $194.10 million for the quarter, compared to the consensus estimate of $176.85 million. Ocean Rig UDW’s quarterly revenue was down 35.9% compared to the same quarter last year.

Several institutional investors and hedge funds have recently made changes to their positions in ORIG. New York Life Investment Management LLC bought a new stake in shares of Ocean Rig UDW during the fourth quarter valued at approximately $6,993,000. Spark Investment Management LLC bought a new stake in shares of Ocean Rig UDW during the fourth quarter valued at approximately $249,000. Mackenzie Financial Corp bought a new stake in shares of Ocean Rig UDW during the fourth quarter valued at approximately $3,634,000. Geode Capital Management LLC bought a new stake in shares of Ocean Rig UDW during the fourth quarter valued at approximately $1,072,000. Finally, Bogle Investment Management L P DE bought a new stake in shares of Ocean Rig UDW during the fourth quarter valued at approximately $2,060,000. 81.69% of the stock is owned by institutional investors.

About Ocean Rig UDW

Ocean Rig UDW Inc, an offshore drilling contractor, provides oilfield services for offshore oil and gas exploration, development, and production drilling worldwide. It specializes in the ultra-deepwater and harsh-environment segment of the offshore drilling industry. The company owns and operates two fifth generation harsh weather ultra-deepwater semisubmersible offshore drilling units under the Leiv Eiriksson and Eirik Raude names; five sixth generation ultra-deepwater drilling units under the Ocean Rig Corcovado, the Ocean Rig Olympia, the Ocean Rig Poseidon, and the Ocean Rig Mykonos names; and four seventh generation drilling units under the Ocean Rig Mylos, the Ocean Rig Skyros, the Ocean Rig Athena, and the Ocean Rig Apollo names.

Receive News & Ratings for Ocean Rig UDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocean Rig UDW and related companies with MarketBeat.com's FREE daily email newsletter.