Borr Drilling Limited (NYSE:BORR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Borr Drilling Limited (NYSE:BORRGet Free Report) have earned an average rating of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $5.2667.

BORR has been the topic of several recent research reports. Wall Street Zen cut Borr Drilling from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Zacks Research raised shares of Borr Drilling to a “hold” rating in a research note on Thursday, July 2nd. Capital One Financial set a $6.00 target price 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. Finally, Weiss Ratings downgraded shares of Borr Drilling from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 12th.

Check Out Our Latest Research Report on Borr Drilling

Borr Drilling Price Performance

Shares of BORR stock opened at $4.39 on Thursday. Borr Drilling has a 1 year low of $2.44 and a 1 year high of $6.66. The firm’s 50 day moving average is $4.25 and its 200-day moving average is $5.09. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -5.63 and a beta of 1.02. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 2.58.

Borr Drilling (NYSE:BORRGet Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). The firm had revenue of $232.30 million during the quarter, compared to the consensus estimate of $245.96 million. Borr Drilling had a negative net margin of 23.98% and a negative return on equity of 5.95%. Sell-side analysts forecast that Borr Drilling will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling at Borr Drilling

In other news, Director Thiago Mordehachvili sold 8,000,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $4.70, for a total value of $37,600,000.00. Following the transaction, the director directly owned 38,199,677 shares in the company, valued at $179,538,481.90. This trade represents a 17.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey Currie bought 125,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were bought at an average price of $4.01 per share, with a total value of $501,250.00. Following the completion of the transaction, the director directly 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 disclosure for this purchase is available in the SEC filing. 7.90% of the stock is owned by company insiders.

Institutional Trading of Borr Drilling

Hedge funds have recently added to or reduced their stakes in the business. Glenorchy Capital Ltd acquired a new position in shares of Borr Drilling in the 4th quarter valued at approximately $2,484,000. Jennison Associates LLC acquired a new stake in Borr Drilling during the 4th quarter worth approximately $856,000. GeoSphere Capital Management LLC acquired a new stake in Borr Drilling during the 4th quarter worth approximately $5,582,000. Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Borr Drilling by 30.6% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,119,465 shares of the company’s stock valued at $12,229,000 after buying an additional 496,302 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Borr Drilling by 167.3% during the first 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 period. Institutional investors and hedge funds own 83.12% of the company’s stock.

About Borr Drilling

(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.

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Analyst Recommendations for Borr Drilling (NYSE:BORR)

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