Borr Drilling (NYSE:BORR) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Borr Drilling (NYSE:BORR) from a hold rating to a sell rating in a report released on Saturday.

BORR has been the topic of a number of other reports. Citigroup increased their price objective on shares of Borr Drilling from $6.00 to $6.25 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Borr Drilling in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $4.33.

Borr Drilling Stock Down 4.4%

BORR opened at $5.79 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 34.03 and a beta of 1.00. Borr Drilling has a one year low of $1.55 and a one year high of $6.25. The business’s fifty day moving average is $5.32 and its two-hundred day moving average is $4.07.

Borr Drilling (NYSE:BORR) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.03. The business had revenue of $259.40 million during the quarter, compared to analysts’ expectations of $238.65 million. Borr Drilling had a return on equity of 4.14% and a net margin of 4.41%.

Institutional Trading of Borr Drilling

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BORR. Caitong International Asset Management Co. Ltd increased its stake in shares of 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 valued at $34,000 after acquiring an additional 8,133 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Borr Drilling by 47.8% during the 4th quarter. Invesco Ltd. now owns 413,923 shares of the company’s stock worth $1,668,000 after acquiring an additional 133,869 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Borr Drilling in the fourth quarter worth approximately $49,000. CacheTech Inc. boosted its position in shares of Borr Drilling by 28.9% in the fourth quarter. CacheTech Inc. now owns 29,685 shares of the company’s stock worth $120,000 after acquiring an additional 6,655 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in Borr Drilling in the fourth quarter valued at approximately $2,664,000. Hedge funds and other institutional investors own 83.12% of the company’s stock.

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.