Borr Drilling (NYSE:BORR) Upgraded at Fearnley Fonds

Borr Drilling (NYSE:BORR) was upgraded by investment analysts at Fearnley Fonds from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on BORR. Citigroup lifted their price target on Borr Drilling from $6.00 to $6.25 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Weiss Ratings lowered Borr Drilling from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. Finally, Wall Street Zen lowered Borr Drilling from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.33.

Borr Drilling Trading Down 1.0%

Shares of BORR stock opened at $5.49 on Tuesday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 1.65. The business has a 50-day moving average price of $5.63 and a two-hundred day moving average price of $4.39. Borr Drilling has a 12-month low of $1.55 and a 12-month high of $6.25. The firm has a market cap of $1.73 billion, a P/E ratio of 32.26 and a beta of 1.10.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.03. Borr Drilling had a return on equity of 4.14% and a net margin of 4.41%.The firm had revenue of $259.40 million during the quarter, compared to analyst estimates of $238.65 million.

Institutional Investors Weigh In On Borr Drilling

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in shares of Borr Drilling by 18.2% in the 4th quarter. California State Teachers Retirement System now owns 16,390 shares of the company’s stock valued at $66,000 after acquiring an additional 2,529 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Borr Drilling by 9.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,278 shares of the company’s stock valued at $121,000 after acquiring an additional 2,560 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Borr Drilling by 7.8% in the 1st quarter. SG Americas Securities LLC now owns 40,732 shares of the company’s stock valued at $235,000 after acquiring an additional 2,963 shares during the last quarter. Mariner LLC lifted its stake in shares of Borr Drilling by 13.1% in the 4th quarter. Mariner LLC now owns 26,623 shares of the company’s stock valued at $107,000 after acquiring an additional 3,094 shares during the last quarter. Finally, Salvus Wealth Management LLC lifted its stake in shares of Borr Drilling by 13.6% in the 4th quarter. Salvus Wealth Management LLC now owns 30,935 shares of the company’s stock valued at $125,000 after acquiring an additional 3,715 shares during the last quarter. Institutional investors own 83.12% of the company’s stock.

Borr Drilling Company Profile

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.