Brokerages Set Borr Drilling Limited (NYSE:BORR) Price Target at $5.27

Borr Drilling Limited (NYSE:BORR) has been assigned a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $5.2667.

A number of research analysts recently commented on BORR shares. Capital One Financial set a $6.00 price target on Borr Drilling and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Weiss Ratings downgraded shares of Borr Drilling from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 12th. Wall Street Zen lowered shares of Borr Drilling from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. SEB Equity Research set a $3.55 target price on Borr Drilling in a report on Monday, August 17th. Finally, Zacks Research lowered Borr Drilling from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th.

Insider Buying and Selling at Borr Drilling

In related news, Director Jeffrey Currie purchased 125,000 shares of Borr Drilling stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $4.01 per share, for a total transaction of $501,250.00. Following the purchase, the director owned 479,423 shares in the company, valued at approximately $1,922,486.23. This trade represents a 35.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.90% of the company’s stock.

Institutional Trading of Borr Drilling

Hedge funds and other institutional investors have recently modified their holdings of the stock. Optiver Holding B.V. increased its holdings in Borr Drilling by 186.4% in the 1st quarter. Optiver Holding B.V. now owns 5,060 shares of the company’s stock worth $29,000 after purchasing an additional 3,293 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Borr Drilling by 2,435.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock valued at $34,000 after buying an additional 8,133 shares during the period. Cetera Investment Advisers bought a new position in Borr Drilling in the 1st quarter valued at approximately $66,000. Great Lakes Advisors LLC acquired a new stake in Borr Drilling during the 2nd quarter worth approximately $85,000. Finally, Amundi acquired a new stake in Borr Drilling during the 1st quarter worth approximately $134,000. Institutional investors own 83.12% of the company’s stock.

Borr Drilling Trading Down 0.2%

BORR stock opened at $4.45 on Monday. 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 company has a market capitalization of $1.40 billion, a PE ratio of -5.71 and a beta of 1.03. Borr Drilling has a 52 week low of $2.44 and a 52 week high of $6.66. The company’s 50-day simple moving average is $4.28 and its 200 day simple moving average is $4.93.

Borr Drilling (NYSE:BORR) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). The business had revenue of $232.30 million during the quarter, compared to analyst estimates of $245.96 million. Borr Drilling had a negative net margin of 23.98% and a negative return on equity of 5.95%. As a group, sell-side analysts anticipate that Borr Drilling will post -0.48 earnings per share for the current year.

About Borr Drilling

Borr Drilling Limited is an offshore drilling contractor that provides drilling services to oil and gas companies. Its principal business is the operation of a fleet of modern jack-up drilling rigs, which are designed to operate in shallow-water environments and support exploration, development and production drilling programs.

The company offers rig contracting and related offshore drilling services, including equipment, crews and operational support. Its jack-up rigs are used for projects in established and emerging offshore energy markets, with operations serving customers across regions such as the North Sea, the Middle East, Southeast Asia, West Africa and the Americas, depending on contract activity.

Borr Drilling was established in 2016 and expanded through the acquisition and integration of jack-up drilling assets from other industry participants.