Borr Drilling (NYSE:BORR) Director Jeffrey Currie Purchases 125,000 Shares

Borr Drilling Limited (NYSE:BORR) Director Jeffrey Currie bought 125,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $4.01 per share, for a total transaction of $501,250.00. Following the acquisition, the director directly owned 479,423 shares of the company’s stock, valued at approximately $1,922,486.23. The trade was a 35.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Borr Drilling Stock Up 8.8%

Shares of NYSE BORR opened at $4.40 on Friday. The firm’s fifty day moving average is $4.26 and its 200 day moving average is $5.11. Borr Drilling Limited has a 52 week low of $2.28 and a 52 week high of $6.66. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.82. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -5.64 and a beta of 1.02.

Borr Drilling (NYSE:BORR) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). Borr Drilling had a negative return on equity of 5.67% and a negative net margin of 23.98%.The firm had revenue of $232.30 million during the quarter, compared to the consensus estimate of $245.96 million. On average, equities research analysts expect that Borr Drilling Limited will post -0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BORR shares. Wall Street Zen lowered Borr Drilling from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Weiss Ratings cut Borr Drilling from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday. Fearnley Fonds raised Borr Drilling from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Zacks Research upgraded Borr Drilling to a “hold” rating in a research report on Thursday, July 2nd. Finally, Capital One Financial set a $6.00 price target on Borr Drilling and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Borr Drilling presently has an average rating of “Moderate Buy” and a consensus target price of $4.88.

Institutional Investors Weigh In On Borr Drilling

A number of institutional investors have recently bought and sold shares of the business. Sona Asset Management US LLC purchased a new position in shares of Borr Drilling in the third quarter valued at about $17,180,000. DNB Asset Management AS raised its stake in Borr Drilling by 126.4% during the 4th quarter. DNB Asset Management AS now owns 8,771,876 shares of the company’s stock valued at $35,351,000 after purchasing an additional 4,896,701 shares during the period. Marshall Wace LLP lifted its holdings in Borr Drilling by 9,222.0% in the 4th quarter. Marshall Wace LLP now owns 4,573,837 shares of the company’s stock worth $18,433,000 after purchasing an additional 4,524,772 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in Borr Drilling in the 4th quarter worth approximately $14,326,000. Finally, Millennium Management LLC grew its holdings in Borr Drilling by 1,025.5% during the 1st quarter. Millennium Management LLC now owns 3,810,556 shares of the company’s stock valued at $8,345,000 after buying an additional 3,471,979 shares in the last quarter. Hedge funds and other institutional investors own 83.12% of the company’s stock.

About Borr Drilling

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.