Borr Drilling Limited (NYSE:BORR) Stock Has Average Price Target of $5.27

by · The Cerbat Gem

Borr Drilling Limited (NYSE:BORR – Get Free Report) has been given a consensus rating of “Hold” by the five analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.27.

A number of equities research analysts recently weighed in on BORR shares. Weiss Ratings raised shares of Borr Drilling from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. SEB Equity Research set a $3.55 price objective on shares of Borr Drilling in a research note on Monday, August 17th. Wall Street Zen lowered Borr Drilling from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Zacks Research lowered Borr Drilling from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 15th. Finally, Capital One Financial set a $6.00 target price on Borr Drilling and gave the stock an “overweight” rating in a research report on Wednesday, July 1st.

Read Our Latest Report on BORR

Insider Activity

In other news, Director Jeffrey Currie bought 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $4.01 per share, with a total value of $501,250.00. Following the transaction, the director directly owned 479,423 shares in the company, valued at $1,922,486.23. This trade represents a 35.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Abel Hall LLC grew its holdings in shares of Borr Drilling by 11.3% during the first quarter. Abel Hall LLC now owns 25,262 shares of the company’s stock worth $146,000 after buying an additional 2,566 shares during the last quarter. SG Americas Securities LLC increased its position in 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 period. AXQ Capital LP raised its stake in Borr Drilling by 2.6% during the 2nd quarter. AXQ Capital LP now owns 124,639 shares of the company’s stock valued at $515,000 after acquiring an additional 3,180 shares during the last quarter. Optiver Holding B.V. raised its stake in Borr Drilling by 186.4% during the 1st quarter. Optiver Holding B.V. now owns 5,060 shares of the company’s stock valued at $29,000 after acquiring an additional 3,293 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in Borr Drilling by 2,435.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock valued at $34,000 after acquiring an additional 8,133 shares during the last quarter. Institutional investors and hedge funds own 83.12% of the company’s stock.

Borr Drilling Stock Down 2.3%

Shares of NYSE:BORR opened at $4.82 on Friday. The firm has a 50 day simple moving average of $4.34 and a 200-day simple moving average of $4.82. Borr Drilling has a twelve month low of $2.53 and a twelve month high of $6.66. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 2.58. The company has a market capitalization of $1.52 billion, a PE ratio of -6.17 and a beta of 1.08.

Borr Drilling (NYSE:BORR – Get Free Report) last posted its 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 company had revenue of $232.30 million during the quarter, compared to analysts’ expectations of $245.96 million. On average, equities analysts predict that Borr Drilling will post -0.48 EPS for the current fiscal year.

Borr Drilling Company Profile

(Get Free Report)

Borr Drilling Limited (NYSE: BORR) is an offshore drilling contractor that provides drilling services to oil and gas companies. The company focuses primarily on jack-up rigs, which are mobile offshore drilling units used in relatively shallow waters for exploration, development and production drilling.

Borr Drilling owns and operates a fleet of modern jack-up rigs, including premium and high-specification units designed to work in a range of offshore environments. Its services support customers throughout the drilling life cycle, from exploratory wells to development and production activities.

Established in 2016 and headquartered in Hamilton, Bermuda, Borr Drilling expanded its fleet through the acquisition of jack-up rigs from Transocean in 2017.

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