Borr Drilling Limited (NYSE:BORR) Given Consensus Recommendation of “Hold” by Analysts

Shares of Borr Drilling Limited (NYSE:BORRGet Free Report) have been assigned an average recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $4.8833.

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

Check Out Our Latest Report on BORR

Insider Buying and Selling

In related news, Director Thiago Mordehachvili sold 8,000,000 shares of the company’s 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 sale, the director owned 38,199,677 shares in the company, valued at approximately $179,538,481.90. This represents a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Borr Drilling

Several hedge funds and other institutional investors have recently made changes to their positions in BORR. Optiver Holding B.V. lifted its stake in shares of 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 during the period. Caitong International Asset Management Co. Ltd increased its holdings in Borr Drilling by 2,435.0% during 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 last quarter. Inspire Advisors LLC bought a new position in Borr Drilling in the fourth quarter worth approximately $44,000. Cetera Investment Advisers bought a new position in Borr Drilling in the first quarter worth approximately $66,000. Finally, Regatta Capital Group LLC purchased a new position in shares of Borr Drilling during the 4th quarter worth $47,000. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Borr Drilling Stock Performance

NYSE BORR traded up $0.20 during trading hours on Wednesday, hitting $4.33. The company’s stock had a trading volume of 793,968 shares, compared to its average volume of 7,610,357. Borr Drilling has a 12 month low of $1.85 and a 12 month high of $6.66. The company’s 50 day simple moving average is $5.25 and its two-hundred day simple moving average is $5.09. The company has a market cap of $1.36 billion, a P/E ratio of 28.69 and a beta of 0.96. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.63 and a quick ratio of 1.63.

Borr Drilling (NYSE:BORRGet Free Report) last posted its earnings results on Wednesday, May 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company had revenue of $247.00 million for the quarter, compared to the consensus estimate of $253.35 million. Borr Drilling had a net margin of 3.13% and a return on equity of 2.88%.

Borr Drilling Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Borr Drilling (NYSE:BORR)

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