Lansdowne Partners UK LLP grew its position in Ocean Rig UDW Inc (NASDAQ:ORIG) by 28.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,540,466 shares of the oil and gas company’s stock after acquiring an additional 341,015 shares during the period. Ocean Rig UDW comprises approximately 0.6% of Lansdowne Partners UK LLP’s investment portfolio, making the stock its 17th biggest position. Lansdowne Partners UK LLP’s holdings in Ocean Rig UDW were worth $53,332,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in shares of Ocean Rig UDW in the third quarter worth about $121,000. Tower Research Capital LLC TRC acquired a new position in shares of Ocean Rig UDW in the second quarter worth about $215,000. Amalgamated Bank acquired a new position in shares of Ocean Rig UDW in the second quarter worth about $218,000. Aviva PLC acquired a new position in shares of Ocean Rig UDW in the second quarter worth about $235,000. Finally, Commonwealth Bank of Australia acquired a new position in shares of Ocean Rig UDW in the third quarter worth about $304,000. Institutional investors and hedge funds own 85.16% of the company’s stock.
A number of research analysts have weighed in on ORIG shares. ValuEngine upgraded shares of Ocean Rig UDW from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 4th. BidaskClub downgraded shares of Ocean Rig UDW from a “buy” rating to a “hold” rating in a research report on Friday, October 19th. Finally, Nordea Equity Research downgraded shares of Ocean Rig UDW from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $30.00.
Ocean Rig UDW (NASDAQ:ORIG) last released its earnings results 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 analysts’ expectations of $76.40 million. Ocean Rig UDW had a net margin of 14.49% and a return on equity of 4.50%. The company’s quarterly revenue was down 63.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($26.36) earnings per share.
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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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