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

Borr Drilling (NYSE:BORR) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

A number of other equities research analysts also recently commented on BORR. Weiss Ratings downgraded shares of Borr Drilling from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. Citigroup raised 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. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $4.33.

Borr Drilling Stock Down 0.1%

Shares of NYSE BORR opened at $5.83 on Friday. 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 firm’s fifty day moving average is $5.43 and its 200 day moving average is $4.14. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 34.26 and a beta of 1.10. Borr Drilling has a 52 week low of $1.55 and a 52 week high of $6.25.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.00 earnings per share for the quarter, beating 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 business had revenue of $259.40 million for the quarter, compared to analysts’ expectations of $238.65 million.

Institutional Investors Weigh In On Borr Drilling

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its position in Borr Drilling by 2,435.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock valued at $34,000 after purchasing an additional 8,133 shares in the last quarter. Invesco Ltd. boosted its holdings in Borr Drilling by 47.8% during the fourth quarter. Invesco Ltd. now owns 413,923 shares of the company’s stock worth $1,668,000 after buying an additional 133,869 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Borr Drilling in the fourth quarter valued at approximately $49,000. CacheTech Inc. raised 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 worth $120,000 after purchasing an additional 6,655 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Borr Drilling in the 4th quarter valued at $2,664,000. Institutional investors own 83.12% of the company’s stock.

About Borr Drilling

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.