Borr Drilling (NYSE:BORR) Sets New 12-Month High – Should You Buy?

Borr Drilling Limited (NYSE:BORR) shares reached a new 52-week high on Tuesday . The company traded as high as $4.48 and last traded at $4.3950, with a volume of 1139829 shares traded. The stock had previously closed at $4.18.

Analyst Ratings Changes

Several analysts have weighed in on BORR shares. Wall Street Zen raised Borr Drilling from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Citigroup reissued a “neutral” rating and issued a $4.60 price objective (up from $3.75) on shares of Borr Drilling in a research note on Monday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Borr Drilling in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.50.

Borr Drilling Stock Performance

The company has a market capitalization of $1.33 billion, a PE ratio of 16.09 and a beta of 1.09. The stock’s fifty day simple moving average is $3.69 and its 200-day simple moving average is $2.96. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.63 and a current ratio of 1.63.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Borr Drilling had a net margin of 7.06% and a return on equity of 7.02%. The business had revenue of $277.10 million during the quarter, compared to analyst estimates of $261.44 million.

Institutional Investors Weigh In On Borr Drilling

Hedge funds and other institutional investors have recently made changes to their positions in the business. Regatta Capital Group LLC purchased a new position in Borr Drilling during the fourth quarter worth about $47,000. Salvus Wealth Management LLC grew its stake in shares of Borr Drilling by 13.6% during the 4th quarter. Salvus Wealth Management LLC now owns 30,935 shares of the company’s stock valued at $125,000 after buying an additional 3,715 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Borr Drilling during the 4th quarter worth $152,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Borr Drilling by 9.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,278 shares of the company’s stock valued at $121,000 after acquiring an additional 2,560 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its position in Borr Drilling by 77.7% during the third quarter. Tudor Investment Corp ET AL now owns 657,411 shares of the company’s stock valued at $1,768,000 after acquiring an additional 287,428 shares during the period. Hedge funds and other 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.