Borr Drilling Limited (NYSE:BORR) Stock Has Average Price Target of $5.27 According to Analysts

Shares of Borr Drilling Limited (NYSE:BORR) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $5.27.

A number of research analysts have commented on the company. Wall Street Zen cut Borr Drilling from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. SEB Equity Research set a $3.55 price target on Borr Drilling in a research report on Monday, August 17th. Capital One Financial set a $6.00 price objective on Borr Drilling and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded Borr Drilling from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, October 9th. Finally, Zacks Research downgraded Borr Drilling from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 15th.

Borr Drilling Price Performance

Borr Drilling stock opened at $4.54 on Friday. The company’s 50 day simple moving average is $4.37 and its 200-day simple moving average is $4.80. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -5.83 and a beta of 1.08. Borr Drilling has a 1 year low of $2.53 and a 1 year high of $6.66. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.53 and a current ratio of 2.53.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). Borr Drilling had a negative return on equity of 5.95% and a negative net margin of 23.98%. The company had revenue of $232.30 million for the quarter, compared to analysts’ expectations of $245.96 million. As a group, equities research analysts expect that Borr Drilling will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jeffrey Currie bought 125,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was bought at an average cost of $4.01 per share, with a total value of $501,250.00. Following the transaction, the director directly owned 479,423 shares in the company, valued at $1,922,486.23. The trade was a 35.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.90% of the stock is owned by company insiders.

Institutional Trading of Borr Drilling

Several hedge funds have recently made changes to their positions in BORR. Optiver Holding B.V. grew its holdings in shares of Borr Drilling by 186.4% in 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 lifted its holdings in Borr Drilling by 2,435.0% during the 4th 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 in the last quarter. Fortitude Family Office LLC lifted its holdings in Borr Drilling by 11,940.8% during the 3rd quarter. Fortitude Family Office LLC now owns 8,549 shares of the company’s stock worth $33,000 after buying an additional 8,478 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Borr Drilling during the 3rd quarter worth approximately $41,000. Finally, Cetera Investment Advisers purchased a new position in Borr Drilling in the 1st quarter valued at approximately $66,000. Institutional investors and hedge funds own 83.12% of the company’s stock.

Borr Drilling Company Profile

Borr Drilling Limited (NYSE: BORR) is an offshore drilling contractor that provides drilling services to oil and gas companies. The company focuses primarily on jack-up rigs, which are mobile offshore drilling units used in relatively shallow waters for exploration, development and production drilling.

Borr Drilling owns and operates a fleet of modern jack-up rigs, including premium and high-specification units designed to work in a range of offshore environments. Its services support customers throughout the drilling life cycle, from exploratory wells to development and production activities.

Established in 2016 and headquartered in Hamilton, Bermuda, Borr Drilling expanded its fleet through the acquisition of jack-up rigs from Transocean in 2017.