Borr Drilling Limited (NYSE:BORR) Receives Average Recommendation of “Hold” from Brokerages

Shares of Borr Drilling Limited (NYSE:BORR) have received an average rating of “Hold” from the five analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.8833.

A number of research analysts recently issued reports on BORR shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Borr Drilling in a research report on Wednesday, June 24th. Capital One Financial set a $6.00 price objective on shares of Borr Drilling and gave the stock an “overweight” rating in a report on Wednesday. Wall Street Zen downgraded shares of Borr Drilling from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Finally, Fearnley Fonds upgraded shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st.

Insider Transactions at Borr Drilling

In other Borr Drilling news, Director Thiago Mordehachvili sold 8,000,000 shares of Borr Drilling stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $4.70, for a total transaction of $37,600,000.00. Following the completion of the transaction, the director owned 38,199,677 shares in the company, valued at approximately $179,538,481.90. The trade was a 17.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Borr Drilling

Institutional investors and hedge funds have recently modified their holdings of the stock. Glenorchy Capital Ltd purchased a new stake in shares of Borr Drilling during the fourth quarter valued at approximately $2,484,000. Jennison Associates LLC bought a new stake in shares of Borr Drilling during the fourth quarter valued at approximately $856,000. Tudor Investment Corp ET AL raised its holdings in Borr Drilling by 77.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 657,411 shares of the company’s stock worth $1,768,000 after acquiring an additional 287,428 shares during the last quarter. TT International Asset Management LTD purchased a new position in Borr Drilling in the 4th quarter worth approximately $1,024,000. Finally, GeoSphere Capital Management LLC bought a new position in Borr Drilling in the 4th quarter valued at approximately $5,582,000. 83.12% of the stock is currently owned by institutional investors.

Borr Drilling Stock Up 4.7%

BORR stock traded up $0.20 during midday trading on Wednesday, hitting $4.33. The stock had a trading volume of 793,968 shares, compared to its average volume of 7,610,357. The business has a 50-day moving average of $5.25 and a two-hundred day moving average of $5.09. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 28.69 and a beta of 0.96. Borr Drilling has a 52-week low of $1.85 and a 52-week high of $6.66.

Borr Drilling (NYSE:BORR) last announced its quarterly earnings data on Wednesday, May 20th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm 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%.

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.