Borr Drilling (NYSE:BORR) Stock Rating Upgraded by Wall Street Zen

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

A number of other equities analysts have also recently issued reports on the company. Fearnley Fonds cut Borr Drilling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. BTIG Research cut Borr Drilling from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Citigroup began coverage on Borr Drilling in a report on Thursday, September 11th. They set a “neutral” rating and a $3.25 price target on the stock. SEB Equity Research set a $2.40 price target on Borr Drilling in a report on Monday, September 1st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Borr Drilling in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Borr Drilling currently has an average rating of “Hold” and a consensus price target of $2.83.

Borr Drilling Stock Performance

NYSE:BORR opened at $2.45 on Friday. The company has a market capitalization of $577.58 million, a PE ratio of 11.64 and a beta of 1.83. The company has a 50 day simple moving average of $2.74 and a two-hundred day simple moving average of $2.22. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.28 and a current ratio of 1.28. Borr Drilling has a fifty-two week low of $1.55 and a fifty-two week high of $5.43.

Borr Drilling (NYSE:BORR) last released its earnings results on Wednesday, August 13th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $267.70 million during the quarter, compared to the consensus estimate of $265.81 million. Borr Drilling had a net margin of 5.48% and a return on equity of 5.46%.

Institutional Trading of Borr Drilling

Several hedge funds have recently bought and sold shares of BORR. Exchange Traded Concepts LLC grew its position in Borr Drilling by 527.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 62,138 shares of the company’s stock valued at $136,000 after purchasing an additional 52,232 shares during the period. Janney Montgomery Scott LLC grew its position in Borr Drilling by 51.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 50,682 shares of the company’s stock valued at $111,000 after purchasing an additional 17,240 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Borr Drilling during the 1st quarter valued at $55,000. Summit Trail Advisors LLC bought a new position in Borr Drilling during the 1st quarter valued at $25,000. Finally, Goehring & Rozencwajg Associates LLC lifted its stake in Borr Drilling by 2.2% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,056,112 shares of the company’s stock valued at $2,556,000 after acquiring an additional 22,795 shares in the last quarter. Institutional investors and hedge funds own 83.12% of the company’s stock.

About Borr Drilling

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.