Evercore ISI upgraded shares of Borr Drilling (NYSE:BORR – Free Report) from an in-line rating to an outperform rating in a report published on Friday, Marketbeat.com reports. Evercore ISI currently has $9.00 target price on the stock.
Borr Drilling Stock Up 3.8 %
Shares of NYSE:BORR opened at $5.48 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.75. Borr Drilling has a 12 month low of $5.09 and a 12 month high of $7.80. The company has a market cap of $835.70 million, a price-to-earnings ratio of 32.24 and a beta of 3.00. The company has a 50-day moving average price of $6.21 and a 200 day moving average price of $6.20.
Borr Drilling (NYSE:BORR – Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter. Borr Drilling had a net margin of 8.15% and a return on equity of 7.69%. The company had revenue of $271.90 million for the quarter.
Borr Drilling Announces Dividend
Institutional Trading of Borr Drilling
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xponance Inc. raised its position in Borr Drilling by 13.3% in the 2nd quarter. Xponance Inc. now owns 15,058 shares of the company’s stock worth $97,000 after purchasing an additional 1,767 shares during the period. Quadrant Capital Group LLC increased its position in shares of Borr Drilling by 111.6% during the fourth quarter. Quadrant Capital Group LLC now owns 4,472 shares of the company’s stock worth $33,000 after acquiring an additional 2,359 shares during the period. ProShare Advisors LLC increased its position in shares of Borr Drilling by 8.5% during the first quarter. ProShare Advisors LLC now owns 39,513 shares of the company’s stock worth $271,000 after acquiring an additional 3,110 shares during the period. Bleakley Financial Group LLC increased its position in shares of Borr Drilling by 4.5% during the first quarter. Bleakley Financial Group LLC now owns 90,901 shares of the company’s stock worth $623,000 after acquiring an additional 3,874 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Borr Drilling by 16.2% during the first quarter. Principal Financial Group Inc. now owns 29,567 shares of the company’s stock worth $203,000 after acquiring an additional 4,125 shares during the period. 83.12% of the stock is owned by hedge funds and other institutional investors.
Borr Drilling Company Profile
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.
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