Barclays Terminates Ocean Rig UDW Inc(NASDAQ:ORIG)

Brokerage firm Barclays Terminates its rating on Ocean Rig UDW Inc(NASDAQ:ORIG). Previously, the analysts had a Underweight rating on the shares. The rating by Barclays was issued on Aug 18, 2016.

In a different note, On Aug 16, 2016, Deutsche Bank said it Downgrades its rating on Ocean Rig UDW Inc. The shares have been rated ‘Hold’ by the firm. On May 24, 2016, Deutsche Bank said it Maintains its rating on Ocean Rig UDW Inc. In the research note, the firm Raises the price-target to $3.00 per share. The shares have been rated ‘Buy’ by the firm.

Ocean Rig UDW Inc (ORIG) shares turned negative on Mondays trading session with the shares closing down -0.081 points or -9.57% at a volume of 25,00,007. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $0.86. The peak price level was also seen at $0.86 while the days lowest was $0.7601. Finally the shares closed at $0.765. The 52-week high of the shares is $3.49 while the 52-week low is $0.6601. According to the latest information available, the market cap of the company is $123 M.

Ocean Rig UDW Inc(ORIG) last announced its earnings results on Aug 11, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $452.56M. Analysts had an estimated revenue of $376.45M. Earnings per share were $1.83. Analysts had estimated an EPS of $0.72.

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. It specializes in the ultra-deepwater and harsh-environment segment of the offshore drilling industry. Ocean Rig owns and operates two ultra-deepwater semi-submersible offshore drilling rigs the Leiv Eiriksson and the Eirik Raude both based on the Company’s Bingo 9000 design. In addition in January 2011 the Company took delivery of the new build drillship Ocean Rig Corcovado from Samsung Heavy Industries in Korea. As of December 22 2010 Ocean Rig UDW Inc. was majority owned by DryShips Inc. which held a 78% stake in the Company.

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