Ocean Rig UDW Inc Declares Quarterly Dividend of $0.19 (ORIG)
Ocean Rig UDW (NASDAQ:ORIG) announced a quarterly dividend on Monday, July 21st, American Banking News reports. Shareholders of record on Friday, August 1st will be paid a dividend of 0.19 per share on Monday, August 11th. This represents a $0.76 annualized dividend and a dividend yield of 4.21%.
A number of research firms have recently commented on ORIG. Analysts at Raymond James raised their price target on shares of Ocean Rig UDW from $20.00 to $21.00 in a research note on Tuesday, May 27th. They now have an “outperform” rating on the stock. On a related note, analysts at Barclays reiterated an “overweight” rating on shares of Ocean Rig UDW in a research note on Tuesday, May 27th. They now have a $24.00 price target on the stock, up previously from $23.00. Finally, 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. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $22.85.
Ocean Rig UDW (NASDAQ:ORIG) remained flat at $18.07 during trading on Monday. The stock had a trading volume of 3,546 shares. Ocean Rig UDW has a 1-year low of $16.12 and a 1-year high of $20.97. The stock has a 50-day moving average of $18.61 and a 200-day moving average of $17.72. The company has a market cap of $2.383 billion and a price-to-earnings ratio of 43.02.
Ocean Rig UDW (NASDAQ:ORIG) last posted its quarterly earnings results on Thursday, May 22nd. The company reported ($0.01) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.02) by $0.01. The company had revenue of $360.80 million for the quarter, compared to the consensus estimate of $333.07 million. During the same quarter last year, the company posted $0.04 earnings per share. Ocean Rig UDW’s revenue was up 46.4% compared to the same quarter last year. On average, analysts predict that Ocean Rig UDW will post $1.68 earnings per share for the current fiscal year.
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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