Borr Drilling Limited (NYSE:BORR) Given Consensus Rating of “Moderate Buy” by Brokerages

Borr Drilling Limited (NYSE:BORR) has been given a consensus rating of “Moderate Buy” by the five analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $4.8833.

Several brokerages recently weighed in on BORR. Fearnley Fonds upgraded shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Borr Drilling in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of Borr Drilling from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Zacks Research raised Borr Drilling to a “hold” rating in a report on Thursday, July 2nd. Finally, Capital One Financial set a $6.00 price objective on Borr Drilling and gave the stock an “overweight” rating in a research report on Wednesday, July 1st.

Borr Drilling Price Performance

Shares of NYSE BORR opened at $4.23 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market capitalization of $1.34 billion, a PE ratio of 28.23 and a beta of 1.00. Borr Drilling has a 1-year low of $1.86 and a 1-year high of $6.66. The business’s fifty day moving average price is $4.68 and its two-hundred day moving average price is $5.13.

Borr Drilling (NYSE:BORR) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $247.00 million for the quarter, compared to analyst estimates of $253.35 million. Borr Drilling had a net margin of 3.13% and a return on equity of 2.88%. On average, research analysts expect that Borr Drilling will post -0.13 EPS for the current year.

Insiders Place Their Bets

In other Borr Drilling news, Director Thiago Mordehachvili sold 8,000,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $4.70, for a total transaction of $37,600,000.00. Following the completion of the transaction, the director owned 38,199,677 shares in the company, valued at approximately $179,538,481.90. The trade was a 17.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Borr Drilling

A number of hedge funds and other institutional investors have recently modified their holdings of BORR. Optiver Holding B.V. raised its stake in shares of Borr Drilling by 186.4% during the first quarter. Optiver Holding B.V. now owns 5,060 shares of the company’s stock valued at $29,000 after purchasing an additional 3,293 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Borr Drilling by 2,435.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock valued at $34,000 after buying an additional 8,133 shares in the last quarter. Abel Hall LLC acquired a new position in Borr Drilling during the 3rd quarter valued at about $43,000. Oxford Asset Management LLP acquired a new position in Borr Drilling during the 2nd quarter valued at about $43,000. Finally, Inspire Advisors LLC bought a new stake in shares of Borr Drilling during the 4th quarter worth about $44,000. 83.12% of the stock is currently owned by 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.