Borr Drilling (NYSE:BORR) Upgraded at Fearnley Fonds

Key Points

• Fearnley Fonds upgraded Borr Drilling from a "hold" to a strong-buy, but analysts remain mixed overall — MarketBeat shows a consensus Hold rating and a $4.33 consensus price target.
• Borr Drilling beat Q4 estimates (EPS $0.00 vs. -$0.03; revenue $259.4M vs. $238.65M) and the stock is trading around $5.49 with a 52‑week range of $1.55–$6.25 and a P/E of 32.26.
• About 83.12% of the shares are held by institutional investors, with several hedge funds recently adding or initiating positions.

Borr Drilling (NYSE:BORR - Get Free Report) was upgraded by Fearnley Fonds from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages have also recently weighed in on BORR. Wall Street Zen cut Borr Drilling from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings cut Borr Drilling from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, March 27th. Finally, Citigroup lifted their price target on Borr Drilling from $6.00 to $6.25 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Borr Drilling presently has a consensus rating of "Hold" and a consensus price target of $4.33.

Borr Drilling Price Performance

Shares of NYSE BORR opened at $5.49 on Tuesday. The stock has a market cap of $1.73 billion, a PE ratio of 32.26 and a beta of 1.10. Borr Drilling has a fifty-two week low of $1.55 and a fifty-two week high of $6.25. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a fifty day moving average of $5.63 and a 200-day moving average of $4.39.

Borr Drilling (NYSE:BORR - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $259.40 million during the quarter, compared to analysts' expectations of $238.65 million. Borr Drilling had a return on equity of 4.14% and a net margin of 4.41%.

Hedge Funds Weigh In On Borr Drilling

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew 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 worth $34,000 after buying an additional 8,133 shares in the last quarter. Inspire Advisors LLC purchased a new position in Borr Drilling during the fourth quarter worth about $44,000. Baader Bank Aktiengesellschaft purchased a new position in Borr Drilling during the third quarter worth about $30,000. Regatta Capital Group LLC purchased a new position in Borr Drilling during the fourth quarter worth about $47,000. Finally, Quadrature Capital Ltd purchased a new position in Borr Drilling during the fourth quarter worth about $47,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.