ValuEngine lowered shares of Ocean Rig UDW Inc. (NASDAQ:ORIG) from a strong-buy rating to a buy rating in a research note issued to investors on Monday morning.

Shares of Ocean Rig UDW (NASDAQ:ORIG) traded up 1.47% during mid-day trading on Monday, hitting $24.10. The stock had a trading volume of 412,205 shares. The stock has a 50 day moving average price of $1,104.96 and a 200 day moving average price of $1,913.05. Ocean Rig UDW has a 52 week low of $20.22 and a 52 week high of $26,588.00. The firm’s market cap is $1.99 billion.

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Institutional investors have recently bought and sold shares of the company. KCG Holdings Inc. acquired a new position in shares of Ocean Rig UDW during the 1st quarter worth $149,000. Goldman Sachs Group Inc. raised its holdings in shares of Ocean Rig UDW by 109.1% during 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 in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Ocean Rig UDW by 25.4% during 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 in the last quarter. 9.25% of the stock is owned by institutional investors.

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.

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