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Shares of Ocean Rig Udw (NASDAQ:ORIG) were the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totalling 337,316 shares, a decline of 37.2% from the April 15th total of 537,062 shares, American Banking News reports. Approximately 0.7% of the shares of the stock are short sold. Based on an average trading volume of 522,976 shares, the days-to-cover ratio is presently 0.6 days.

A number of analysts have recently weighed in on ORIG shares. Analysts at Zacks upgraded shares of Ocean Rig Udw from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 22nd. They now have a $17.40 price target on the stock. Finally, analysts at TheStreet upgraded shares of Ocean Rig Udw from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $23.60.

Ocean Rig Udw (NASDAQ:ORIG) opened at 16.49 on Tuesday. Ocean Rig Udw has a one year low of $16.12 and a one year high of $20.97. The stock’s 50-day moving average is $17.0 and its 200-day moving average is $18.14. The company has a market cap of $2.175 billion and a price-to-earnings ratio of 34.38.

The company also recently announced a quarterly dividend, which is scheduled for Friday, May 30th. Investors of record on Tuesday, May 20th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Friday, May 16th.

Ocean Rig UDW Inc is a Marshall Islands-registered international offshore drilling contractor. The Company provides oilfield services for offshore oil and gas exploration, development and production drilling.

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