S. Muoio & CO. LLC purchased a new position in shares of Ocean Rig UDW Inc (NASDAQ:ORIG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 60,000 shares of the oil and gas company’s stock, valued at approximately $2,077,000. Ocean Rig UDW makes up approximately 0.9% of S. Muoio & CO. LLC’s portfolio, making the stock its 25th biggest position. S. Muoio & CO. LLC owned 0.07% of Ocean Rig UDW at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in Ocean Rig UDW in the 3rd quarter valued at $121,000. Prudential Financial Inc. acquired a new stake in shares of Ocean Rig UDW during the 3rd quarter worth $3,377,000. Candriam Luxembourg S.C.A. acquired a new stake in shares of Ocean Rig UDW during the 3rd quarter worth $6,827,000. Mint Tower Capital Management B.V. acquired a new stake in shares of Ocean Rig UDW during the 3rd quarter worth $346,000. Finally, Dupont Capital Management Corp acquired a new stake in shares of Ocean Rig UDW during the 3rd quarter worth $4,469,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on ORIG. BidaskClub upgraded Ocean Rig UDW from a “hold” rating to a “buy” rating in a report on Wednesday, September 26th. ValuEngine upgraded Ocean Rig UDW from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Finally, Nordea Equity Research downgraded Ocean Rig UDW from a “buy” rating to a “hold” rating in a report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $30.00.
Shares of ORIG stock traded up $0.50 on Wednesday, reaching $28.32. 21,040 shares of the stock were exchanged, compared to its average volume of 699,303. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 9.68 and a beta of 1.46. The company has a quick ratio of 11.01, a current ratio of 11.01 and a debt-to-equity ratio of 0.16. Ocean Rig UDW Inc has a 1-year low of $22.48 and a 1-year high of $35.86.
Ocean Rig UDW (NASDAQ:ORIG) last released its quarterly earnings data on Tuesday, November 13th. The oil and gas company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.08. The business had revenue of $74.07 million during the quarter, compared to the consensus estimate of $76.40 million. Ocean Rig UDW had a positive return on equity of 6.37% and a negative net margin of 16.88%. The business’s revenue for the quarter was down 63.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($26.36) EPS.
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Ocean Rig UDW Company 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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