Borr Drilling (NYSE:BORR) Stock Rating Upgraded by Capital One Financial

Borr Drilling (NYSE:BORR) was upgraded by stock analysts at Capital One Financial to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Borr Drilling in a research note on Wednesday, June 24th. Fearnley Fonds raised shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen lowered shares of Borr Drilling from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.88.

Borr Drilling Trading Up 5.0%

Shares of NYSE BORR opened at $4.34 on Tuesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.63 and a current ratio of 1.63. The business’s 50 day moving average price is $5.23 and its 200-day moving average price is $5.10. 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 cap of $1.37 billion, a price-to-earnings ratio of 28.91 and a beta of 1.01.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, May 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The business had revenue of $247.00 million for the quarter, compared to analysts’ expectations of $253.35 million. Borr Drilling had a net margin of 3.13% and a return on equity of 2.88%.

Insider Activity at Borr Drilling

In related news, Director Thiago Mordehachvili sold 8,000,000 shares of Borr Drilling stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $4.70, for a total value of $37,600,000.00. Following the completion of the sale, the director directly owned 38,199,677 shares in the company, valued at $179,538,481.90. The trade was a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BORR. DNB Asset Management AS raised its holdings in shares of Borr Drilling by 126.4% in 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 in the last quarter. Sona Asset Management US LLC purchased a new position in Borr Drilling during the third quarter valued at approximately $17,180,000. Marshall Wace LLP increased its holdings in Borr Drilling by 9,222.0% during the fourth quarter. Marshall Wace LLP now owns 4,573,837 shares of the company’s stock valued at $18,433,000 after buying an additional 4,524,772 shares during the period. State Street Corp raised its stake in Borr Drilling by 4.5% in the fourth quarter. State Street Corp now owns 4,212,987 shares of the company’s stock worth $16,978,000 after buying an additional 180,141 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Borr Drilling by 1,025.5% in the first quarter. Millennium Management LLC now owns 3,810,556 shares of the company’s stock worth $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.

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.