Borr Drilling (NYSE:BORR – Get Free Report) was upgraded by equities researchers at Capital One Financial to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.
A number of other equities analysts also recently commented 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 Borr Drilling from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Finally, Wall Street Zen downgraded 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 given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.88.
Read Our Latest Stock Report on BORR
Borr Drilling Trading Up 5.0%
Borr Drilling (NYSE:BORR – Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Borr Drilling had a return on equity of 2.88% and a net margin of 3.13%.The business had revenue of $247.00 million during the quarter, compared to analysts’ expectations of $253.35 million.
Insider Activity
In other news, Director Thiago Mordehachvili sold 8,000,000 shares of Borr Drilling stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $4.70, for a total value of $37,600,000.00. Following the transaction, the director owned 38,199,677 shares of the company’s stock, valued at $179,538,481.90. The trade was a 17.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.90% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Borr Drilling
Hedge funds and other institutional investors have recently bought and sold shares of the company. Optiver Holding B.V. boosted its stake in Borr Drilling by 186.4% in the first quarter. Optiver Holding B.V. now owns 5,060 shares of the company’s stock valued at $29,000 after acquiring an additional 3,293 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of 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 worth $34,000 after purchasing an additional 8,133 shares in the last quarter. Abel Hall LLC acquired a new position in shares of Borr Drilling during the third quarter worth $43,000. Oxford Asset Management LLP purchased a new stake in shares of Borr Drilling during the 2nd quarter valued at $43,000. Finally, Inspire Advisors LLC purchased a new stake in shares of Borr Drilling during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 83.12% of the company’s stock.
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.
See Also
- Five stocks we like better than Borr Drilling
- AirJoule Unveils Prime System, Clearing Path to Commercialization
- Copper Stocks Are Getting a Bigger Spotlight as Gold’s Rally Cracks
- Nike Q4 Beat Masks Core Weakness as Analysts Cut Price Targets
- Uber’s Waymo Detour Tests the Stock’s Robotaxi Bull Case
Receive News & Ratings for Borr Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Borr Drilling and related companies with MarketBeat.com's FREE daily email newsletter.
