Borr Drilling (NYSE:BORR) Sets New 12-Month High – Still a Buy?

Borr Drilling Limited (NYSE:BORR)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $4.95 and last traded at $4.9250, with a volume of 6757185 shares traded. The stock had previously closed at $4.69.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BORR. Weiss Ratings restated a “hold (c-)” rating on shares of Borr Drilling in a research note on Wednesday, January 21st. Citigroup reissued a “neutral” rating and issued a $4.60 target price (up previously from $3.75) on shares of Borr Drilling in a report on Monday, January 12th. Finally, Wall Street Zen upgraded Borr Drilling from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Borr Drilling presently has a consensus rating of “Hold” and an average price target of $3.50.

Borr Drilling Stock Up 7.3%

The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.63 and a current ratio of 1.63. The company’s 50-day moving average price is $4.17 and its 200 day moving average price is $3.26. The stock has a market capitalization of $1.67 billion, a P/E ratio of 19.63 and a beta of 1.11.

Borr Drilling (NYSE:BORR) last issued its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The company had revenue of $277.10 million during the quarter, compared to the consensus estimate of $261.44 million. Borr Drilling had a net margin of 7.06% and a return on equity of 7.02%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Oak Thistle LLC purchased a new stake in Borr Drilling during the 3rd quarter valued at approximately $29,000. Baader Bank Aktiengesellschaft bought a new position in shares of Borr Drilling during the third quarter worth $30,000. Jamison Private Wealth Management Inc. bought a new position in shares of Borr Drilling during the third quarter worth $31,000. R Squared Ltd purchased a new position in Borr Drilling during the second quarter valued at $35,000. Finally, Callan Family Office LLC bought a new stake in Borr Drilling in the 2nd quarter valued at $35,000. 83.12% of the stock is owned by hedge funds and other institutional investors.

Borr Drilling Company Profile

Borr Drilling is an international offshore drilling contractor providing premium jack-up drilling services to the oil and gas industry. Established in 2016 and incorporated in Bermuda with headquarters in Hamilton, the company is listed on the New York Stock Exchange under the ticker symbol BORR. Borr Drilling focuses exclusively on the ownership and operation of mobile offshore jack-up rigs, catering to exploration and production drilling projects in both mature and emerging hydrocarbon regions.

The company’s core business activities encompass the long-term contracting of high-specification jack-up rigs suitable for shallow-to-intermediate water depths.