Rhumbline Advisers purchased a new position in Ocean Rig UDW Inc (NASDAQ:ORIG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 53,678 shares of the oil and gas company’s stock, valued at approximately $1,582,000. Rhumbline Advisers owned about 0.06% of Ocean Rig UDW at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ORIG. Amalgamated Bank purchased a new position in shares of Ocean Rig UDW in the second quarter worth $218,000. Wells Fargo & Company MN purchased a new position in shares of Ocean Rig UDW in the first quarter worth $223,000. Aviva PLC purchased a new position in shares of Ocean Rig UDW during the second quarter worth $235,000. Legal & General Group Plc purchased a new position in shares of Ocean Rig UDW during the first quarter worth $431,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Ocean Rig UDW during the first quarter worth $507,000. 86.06% of the stock is owned by institutional investors and hedge funds.

Shares of Ocean Rig UDW stock opened at $30.96 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 11.01 and a quick ratio of 11.01. Ocean Rig UDW Inc has a 1 year low of $20.22 and a 1 year high of $40.00. The firm has a market cap of $2.79 billion, a P/E ratio of 10.44 and a beta of 1.57.

Ocean Rig UDW (NASDAQ:ORIG) last issued its earnings results on Thursday, August 9th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.32). Ocean Rig UDW had a positive return on equity of 6.37% and a negative net margin of 16.88%. The business had revenue of $97.30 million for the quarter, compared to analysts’ expectations of $128.57 million. Ocean Rig UDW’s revenue was down 65.8% compared to the same quarter last year.

Several brokerages recently issued reports on ORIG. ValuEngine raised shares of Ocean Rig UDW from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. BidaskClub raised shares of Ocean Rig UDW from a “hold” rating to a “buy” rating in a report on Wednesday, June 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.00.

Ocean Rig UDW Profile

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.

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

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