Borr Drilling (NYSE:BORR - Get Free Report) was downgraded by analysts at BTIG Research from a "buy" rating to a "neutral" rating in a research note issued to investors on Monday, Marketbeat reports.
Borr Drilling Stock Up 2.4%
NYSE:BORR traded up $0.05 during mid-day trading on Monday, reaching $1.94. The stock had a trading volume of 1,494,994 shares, compared to its average volume of 4,401,250. The company has a market capitalization of $457.11 million, a price-to-earnings ratio of 10.20 and a beta of 1.79. Borr Drilling has a 1-year low of $1.55 and a 1-year high of $7.09. The stock's 50 day simple moving average is $1.94 and its two-hundred day simple moving average is $2.44. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 1.25.
Borr Drilling (NYSE:BORR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). Borr Drilling had a return on equity of 5.14% and a net margin of 5.11%. The firm had revenue of $217.50 million during the quarter, compared to analyst estimates of $231.17 million.
Hedge Funds Weigh In On Borr Drilling
A number of large investors have recently bought and sold shares of the business. Capital International Investors grew its position in Borr Drilling by 0.5% in the fourth quarter. Capital International Investors now owns 18,780,294 shares of the company's stock worth $73,243,000 after buying an additional 88,412 shares during the last quarter. FIL Ltd raised its position in shares of Borr Drilling by 2.4% during the fourth quarter. FIL Ltd now owns 11,593,801 shares of the company's stock valued at $45,216,000 after buying an additional 267,791 shares during the last quarter. Millennium Management LLC increased its stake in Borr Drilling by 1,025.5% in the first quarter. Millennium Management LLC now owns 3,810,556 shares of the company's stock valued at $8,345,000 after acquiring an additional 3,471,979 shares during the period. Capital International Inc. CA grew its stake in Borr Drilling by 1.2% during the fourth quarter. Capital International Inc. CA now owns 3,321,788 shares of the company's stock worth $12,955,000 after buying an additional 40,885 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new position in shares of Borr Drilling during the fourth quarter worth approximately $10,718,000. Institutional investors own 83.12% of the company's stock.
About Borr Drilling
(
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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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