Borr Drilling (NYSE:BORR) Upgraded at Wall Street Zen

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

Several other equities research analysts have also recently issued reports on BORR. Citigroup lifted their target price on shares of 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 cut shares of Borr Drilling from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $4.33.

Borr Drilling Price Performance

Borr Drilling stock opened at $5.98 on Friday. Borr Drilling has a 1 year low of $1.55 and a 1 year high of $6.25. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.19. The company’s fifty day moving average price is $5.49 and its 200 day moving average price is $4.19. The stock has a market capitalization of $1.88 billion, a P/E ratio of 35.15 and a beta of 1.10.

Borr Drilling (NYSE:BORR) last announced its 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 net margin of 4.41% and a return on equity of 4.14%. The company had revenue of $259.40 million for the quarter, compared to analysts’ expectations of $238.65 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in shares of 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. Invesco Ltd. boosted its position in shares of Borr Drilling by 47.8% during the 4th quarter. Invesco Ltd. now owns 413,923 shares of the company’s stock valued at $1,668,000 after acquiring an additional 133,869 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Borr Drilling during the 4th quarter valued at about $49,000. CacheTech Inc. boosted its position in shares of Borr Drilling by 28.9% during the 4th quarter. CacheTech Inc. now owns 29,685 shares of the company’s stock valued at $120,000 after acquiring an additional 6,655 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Borr Drilling during the 4th quarter valued at about $2,664,000. Institutional investors and hedge funds 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.