Borr Drilling (NYSE:BORR) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Borr Drilling (NYSE:BORR) from a sell rating to a hold rating in a research report released on Saturday.

Several other equities research analysts have also recently issued reports on the stock. BTIG Research cut shares of Borr Drilling from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. Citigroup began coverage on shares of Borr Drilling in a research report on Thursday, September 11th. They set a “neutral” rating and a $3.25 price objective for the company. Fearnley Fonds cut shares of Borr Drilling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. SEB Equity Research set a $2.40 price target on shares of Borr Drilling in a research report on Monday, September 1st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Borr Drilling in a research report on Wednesday. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.83.

Borr Drilling Price Performance

Borr Drilling stock opened at $2.45 on Friday. Borr Drilling has a 12-month low of $1.55 and a 12-month high of $5.43. The stock has a market cap of $577.58 million, a P/E ratio of 11.64 and a beta of 1.83. The company has a 50-day moving average price of $2.74 and a 200 day moving average price of $2.22. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.91.

Borr Drilling (NYSE:BORR) last released its quarterly earnings data on Wednesday, August 13th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. Borr Drilling had a net margin of 5.48% and a return on equity of 5.46%. The firm had revenue of $267.70 million during the quarter, compared to analysts’ expectations of $265.81 million.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Borr Drilling by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,927 shares of the company’s stock valued at $309,000 after purchasing an additional 6,012 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Borr Drilling by 24.9% in the first quarter. Private Advisor Group LLC now owns 31,062 shares of the company’s stock valued at $68,000 after purchasing an additional 6,200 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Borr Drilling by 36.3% in the second quarter. BNP Paribas Financial Markets now owns 30,908 shares of the company’s stock valued at $57,000 after purchasing an additional 8,233 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Borr Drilling in the third quarter valued at approximately $29,000. Finally, Summit Trail Advisors LLC acquired a new position in shares of Borr Drilling in the first quarter valued at approximately $25,000. Institutional investors and hedge funds own 83.12% of the company’s stock.

Borr Drilling Company Profile

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.