Dupont Capital Management Corp Buys New Position in Ocean Rig UDW Inc (ORIG)

Dupont Capital Management Corp bought a new stake in shares of Ocean Rig UDW Inc (NASDAQ:ORIG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 129,100 shares of the oil and gas company’s stock, valued at approximately $4,469,000. Dupont Capital Management Corp owned 0.14% of Ocean Rig UDW as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Kassirer Asset Management Corp purchased a new position in shares of Ocean Rig UDW during the third quarter valued at approximately $5,366,000. TVR Capital Management LP purchased a new position in shares of Ocean Rig UDW during the second quarter valued at approximately $527,000. Tower Research Capital LLC TRC purchased a new position in shares of Ocean Rig UDW during the second quarter valued at approximately $215,000. BlackRock Inc. grew its stake in Ocean Rig UDW by 4,701.5% in the second quarter. BlackRock Inc. now owns 2,707,508 shares of the oil and gas company’s stock worth $79,817,000 after purchasing an additional 2,651,119 shares during the period. Finally, Havens Advisors LLC purchased a new stake in Ocean Rig UDW in the third quarter worth $2,216,000. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on ORIG shares. BidaskClub raised Ocean Rig UDW from a “hold” rating to a “buy” rating in a research note on Wednesday, September 26th. Nordea Equity Research cut Ocean Rig UDW from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. Finally, ValuEngine raised Ocean Rig UDW from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Ocean Rig UDW currently has an average rating of “Hold” and a consensus target price of $30.00.

Shares of ORIG stock opened at $29.60 on Friday. The firm has a market capitalization of $2.83 billion, a P/E ratio of 10.61 and a beta of 1.46. Ocean Rig UDW Inc has a twelve month low of $22.48 and a twelve month high of $35.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.01 and a current ratio of 11.01.

Ocean Rig UDW (NASDAQ:ORIG) last released its earnings results on Thursday, August 9th. The oil and gas company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $97.30 million during the quarter, compared to analysts’ expectations of $128.57 million. Ocean Rig UDW’s quarterly revenue was down 65.8% compared to the same quarter last year.

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About Ocean Rig UDW

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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