Borr Drilling (NYSE:BORR) Director Purchases $501,250.00 in Stock

Borr Drilling Limited (NYSE:BORR) Director Jeffrey Currie purchased 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $4.01 per share, for a total transaction of $501,250.00. Following the completion of the transaction, the director owned 479,423 shares in the company, valued at $1,922,486.23. The trade was a 35.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Borr Drilling Trading Down 0.8%

BORR stock opened at $4.40 on Monday. The business has a fifty day moving average price of $4.26 and a 200 day moving average price of $5.11. 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 Limited has a fifty-two week low of $2.28 and a fifty-two week high of $6.66. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -5.64 and a beta of 1.02.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). The business had revenue of $232.30 million during the quarter, compared to analyst estimates of $245.96 million. Borr Drilling had a negative return on equity of 5.95% and a negative net margin of 23.98%. Analysts expect that Borr Drilling Limited will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Borr Drilling

Several hedge funds have recently added to or reduced their stakes in BORR. Glenorchy Capital Ltd bought a new position in shares of Borr Drilling in the 4th quarter worth $2,484,000. Jennison Associates LLC bought a new stake in Borr Drilling in the fourth quarter valued at about $856,000. GeoSphere Capital Management LLC bought a new stake in Borr Drilling in the fourth quarter valued at about $5,582,000. Goehring & Rozencwajg Associates LLC lifted its stake in Borr Drilling by 30.6% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,119,465 shares of the company’s stock valued at $12,229,000 after buying an additional 496,302 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Borr Drilling in the first quarter valued at about $2,160,000. Institutional investors own 83.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Capital One Financial set a $6.00 price target on shares of Borr Drilling and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Wall Street Zen downgraded shares of Borr Drilling from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Borr Drilling to a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings lowered shares of Borr Drilling from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday. Finally, Fearnley Fonds upgraded shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Borr Drilling presently has an average rating of “Moderate Buy” and an average target price of $4.88.

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.