Ocean Rig UDW (ORIG) Stock Rating Upgraded by ValuEngine

Ocean Rig UDW (NASDAQ:ORIG) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.

Separately, DNB Markets upgraded Ocean Rig UDW from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd.

Ocean Rig UDW (NASDAQ:ORIG) traded down $0.09 during mid-day trading on Friday, reaching $24.10. The company’s stock had a trading volume of 207,608 shares, compared to its average volume of 209,938. Ocean Rig UDW has a fifty-two week low of $20.22 and a fifty-two week high of $40.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.61 and a quick ratio of 4.61.

Several hedge funds and other institutional investors have recently made changes to their positions in ORIG. Goldman Sachs Group Inc. boosted its stake in shares of Ocean Rig UDW by 109.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 650,943 shares of the oil and gas company’s stock worth $103,000 after buying an additional 339,692 shares during the last quarter. KCG Holdings Inc. purchased a new position in shares of Ocean Rig UDW in the 1st quarter worth approximately $149,000. California Public Employees Retirement System boosted its stake in shares of Ocean Rig UDW by 25.4% in the 1st quarter. California Public Employees Retirement System now owns 2,113,100 shares of the oil and gas company’s stock worth $603,000 after buying an additional 428,600 shares during the last quarter. Neuberger Berman Group LLC purchased a new position in shares of Ocean Rig UDW in the 3rd quarter worth approximately $640,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of Ocean Rig UDW in the 3rd quarter worth approximately $1,928,000. Hedge funds and other institutional investors own 80.12% of the company’s stock.

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About Ocean Rig UDW

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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