Borr Drilling Limited (NYSE:BORR – Get Free Report) has received a consensus rating of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $5.27.
BORR has been the subject of a number of recent analyst reports. SEB Equity Research set a $3.55 target price on shares of Borr Drilling in a research report on Monday, August 17th. Weiss Ratings downgraded shares of Borr Drilling from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, October 26th. Wall Street Zen lowered shares of Borr Drilling from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Zacks Research lowered shares of Borr Drilling from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th.
View Our Latest Research Report on Borr Drilling
Insider Buying and Selling
In other news, COO Harvey Snowling purchased 300,000 shares of the stock in a transaction dated Wednesday, October 14th. The shares were bought at an average cost of $4.91 per share, for a total transaction of $1,473,000.00. Following the transaction, the chief operating officer owned 445,944 shares in the company, valued at $2,189,585.04. This trade represents a 205.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey Currie purchased 125,000 shares of the stock in a transaction dated 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 owned 479,423 shares in the company, valued at $1,922,486.23. This trade represents a 35.27% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 7.90% of the company’s stock.
Institutional Trading of Borr Drilling
Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC boosted its position in shares of Borr Drilling by 129.8% during the 2nd quarter. Squarepoint Ops LLC now owns 1,397,369 shares of the company’s stock valued at $5,771,000 after purchasing an additional 789,214 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its stake in shares of Borr Drilling by 30.6% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 2,119,465 shares of the company’s stock worth $12,229,000 after purchasing an additional 496,302 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Borr Drilling by 167.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,491,730 shares of the company’s stock worth $20,148,000 after purchasing an additional 2,185,639 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of 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. Finally, Lazard Asset Management LLC bought a new stake in shares of Borr Drilling in the 1st quarter worth approximately $2,160,000. Institutional investors and hedge funds own 83.12% of the company’s stock.
Borr Drilling Stock Down 0.8%
Shares of Borr Drilling stock opened at $3.21 on Tuesday. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.53 and a quick ratio of 2.53. Borr Drilling has a 1-year low of $2.89 and a 1-year high of $6.66. The business’s fifty day moving average price is $4.22 and its two-hundred day moving average price is $4.84. The company has a market capitalization of $1.01 billion, a P/E ratio of -4.12 and a beta of 1.02.
Borr Drilling (NYSE:BORR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). Borr Drilling had a negative net margin of 23.98% and a negative return on equity of 5.95%. The business had revenue of $232.30 million for the quarter, compared to analyst estimates of $245.96 million. As a group, research analysts forecast that Borr Drilling will post -0.51 EPS for the current year.
About Borr Drilling
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