Borr Drilling (NYSE:BORR) Raised to “Hold” at Wall Street Zen

Borr Drilling (NYSE:BORR) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other equities research analysts also recently weighed in on BORR. Citigroup boosted their price target on Borr Drilling from $6.00 to $6.25 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Weiss Ratings downgraded Borr Drilling from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $4.33.

Borr Drilling Price Performance

Shares of NYSE BORR opened at $5.94 on Friday. Borr Drilling has a twelve month low of $1.55 and a twelve month high of $6.25. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 34.91 and a beta of 1.10. The business has a 50 day simple moving average of $5.46 and a 200-day simple moving average of $4.17.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.03. Borr Drilling had a return on equity of 4.14% and a net margin of 4.41%.The business had revenue of $259.40 million during the quarter, compared to the consensus estimate of $238.65 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DNB Asset Management AS boosted its position in Borr Drilling by 22,394.8% during the 3rd quarter. DNB Asset Management AS now owns 3,875,175 shares of the company’s stock valued at $10,424,000 after purchasing an additional 3,857,948 shares during the period. Sowell Financial Services LLC acquired a new position in Borr Drilling during the 3rd quarter valued at approximately $874,000. Tudor Investment Corp ET AL boosted its position in Borr Drilling by 77.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 657,411 shares of the company’s stock valued at $1,768,000 after purchasing an additional 287,428 shares during the period. Tejara Capital Ltd boosted its position in Borr Drilling by 56.6% during the 3rd quarter. Tejara Capital Ltd now owns 1,518,261 shares of the company’s stock valued at $4,084,000 after purchasing an additional 548,441 shares during the period. Finally, Pekin Hardy Strauss Inc. acquired a new position in Borr Drilling during the 3rd quarter valued at approximately $735,000. Institutional investors and hedge funds 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.