Borr Drilling Limited (NYSE:BORR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Borr Drilling Limited (NYSE:BORR) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $4.8833.

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

Insider Buying and Selling at Borr Drilling

In other Borr Drilling news, Director Thiago Mordehachvili sold 8,000,000 shares of Borr Drilling 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Borr Drilling

Institutional investors and hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. grew its position in Borr Drilling by 186.4% during the 1st 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 during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Borr Drilling by 2,435.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock worth $34,000 after buying an additional 8,133 shares during the last quarter. Abel Hall LLC bought a new position in shares of Borr Drilling in the third quarter worth approximately $43,000. Oxford Asset Management LLP bought a new position in shares of Borr Drilling in the second quarter worth approximately $43,000. Finally, Inspire Advisors LLC purchased a new stake in shares of Borr Drilling during the fourth quarter valued at approximately $44,000. 83.12% of the stock is currently owned by institutional investors.

Borr Drilling Stock Up 0.1%

BORR stock opened at $4.47 on Wednesday. Borr Drilling has a fifty-two week low of $1.85 and a fifty-two week high of $6.66. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 29.83 and a beta of 1.00. The business’s 50 day moving average price is $5.14 and its two-hundred day moving average price is $5.11. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.63 and a current ratio of 1.63.

Borr Drilling (NYSE:BORR) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($0.09) earnings per share 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 the consensus estimate of $253.35 million. Borr Drilling had a net margin of 3.13% and a return on equity of 2.88%. As a group, analysts forecast that Borr Drilling will post -0.13 earnings per share for the current fiscal year.

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.