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

Borr Drilling Limited (NYSE:BORR) has been given an average rating of “Hold” by the five analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $5.27.

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

Insiders Place Their Bets

In related news, Director Jeffrey Currie bought 125,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $4.01 per share, for a total transaction of $501,250.00. Following the completion of the transaction, the director directly owned 479,423 shares of the company’s stock, valued at approximately $1,922,486.23. This represents a 35.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 7.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Encompass Capital Advisors LLC acquired a new stake in shares of Borr Drilling during the 4th quarter valued at $14,326,000. Dimensional Fund Advisors LP grew its position in Borr Drilling by 167.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,491,730 shares of the company’s stock worth $20,148,000 after acquiring an additional 2,185,639 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Borr Drilling in the 1st quarter worth about $12,061,000. Squarepoint Ops LLC increased its holdings in Borr Drilling by 129.8% in the 2nd quarter. Squarepoint Ops LLC now owns 1,397,369 shares of the company’s stock worth $5,771,000 after purchasing an additional 789,214 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Borr Drilling by 115.2% in the 1st quarter. Empowered Funds LLC now owns 1,422,598 shares of the company’s stock worth $8,208,000 after purchasing an additional 761,433 shares in the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Borr Drilling Trading Down 0.1%

Shares of BORR opened at $4.78 on Friday. Borr Drilling has a 52-week low of $2.44 and a 52-week high of $6.66. The business’s fifty day moving average is $4.30 and its 200-day moving average is $4.82. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.53 and a current ratio of 2.53. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -6.12 and a beta of 1.08.

Borr Drilling (NYSE:BORR) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.58). The business had revenue of $232.30 million for the quarter, compared to the consensus estimate of $245.96 million. Borr Drilling had a negative return on equity of 5.95% and a negative net margin of 23.98%. Equities analysts anticipate that Borr Drilling will post -0.48 EPS for the current fiscal year.

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.