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

Shares of Borr Drilling Limited (NYSE:BORR) have been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.2667.

Several brokerages have recently weighed in on BORR. Capital One Financial set a $6.00 price target on shares of Borr Drilling and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Zacks Research raised Borr Drilling to a “hold” rating in a report on Thursday, July 2nd. Wall Street Zen downgraded Borr Drilling from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. SEB Equity Research set a $3.55 price target on Borr Drilling in a report on Monday. Finally, Weiss Ratings cut Borr Drilling from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 12th.

Borr Drilling Stock Down 0.6%

BORR stock opened at $4.40 on Thursday. The stock has a market capitalization of $1.39 billion, a P/E ratio of -5.64 and a beta of 1.02. 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 $2.29 and a 1-year high of $6.66. The business has a fifty day moving average price of $4.25 and a 200-day moving average price of $5.11.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). The company had revenue of $232.30 million for 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%. Equities analysts forecast that Borr Drilling will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Borr Drilling

In other Borr Drilling news, Director Jeffrey Currie acquired 125,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $4.01 per share, with a total value of $501,250.00. Following the completion of the purchase, the director directly owned 479,423 shares in the company, valued at approximately $1,922,486.23. The trade was a 35.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thiago Mordehachvili sold 8,000,000 shares of the company’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Glenorchy Capital Ltd bought a new position in shares of Borr Drilling during the 4th quarter valued at approximately $2,484,000. Jennison Associates LLC purchased a new position in Borr Drilling during the fourth quarter worth $856,000. GeoSphere Capital Management LLC purchased a new position in Borr Drilling during the fourth quarter worth $5,582,000. Goehring & Rozencwajg Associates LLC increased its position in Borr Drilling by 30.6% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,119,465 shares of the company’s stock valued at $12,229,000 after acquiring an additional 496,302 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Borr Drilling by 167.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,491,730 shares of the company’s stock valued at $20,148,000 after acquiring an additional 2,185,639 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.