The price of Borr Drilling Limited (NYSE:BORR) shares last traded on Wall Street rose 3.65% to $7.38.
Based on available information, 9 analysts follow Borr Drilling Limited (NYSE:BORR). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $10.06 and a low of $8.08, we find $9.64. Given the previous closing price of $7.12, this indicates a potential upside of 35.39 percent. BORR stock price is now 4.41% away from the 50-day moving average and 24.90% away from the 200-day moving average. The market capitalization of the company currently stands at $1.80B.
Among analysts, 1 rate the stock a hold while 8 rate it a buy. Brokers who have rated the stock have averaged $9.29 as their price target over the next twelve months.
Insiders disposed of 872,073 shares of company stock worth roughly $6.44 million over the past 1 year. A total of 9.19% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BORR stock. A new stake in Borr Drilling Limited shares was purchased by FOLKETRYGDFONDET during the first quarter worth $67,459,000. CAPITAL INTERNATIONAL INVESTORS invested $58,110,000 in shares of BORR during the first quarter. In the first quarter, MARSHALL WACE, LLP acquired a new stake in Borr Drilling Limited valued at approximately $13,928,000. BANK OF MONTREAL /CAN/ acquired a new stake in BORR for approximately $9,728,000. PORTOLAN CAPITAL MANAGEMENT, LLC purchased a new stake in BORR valued at around $4,515,000 in the second quarter. In total, there are 159 active investors with 56.15% ownership of the company’s stock.
A candlestick chart of Borr Drilling Limited (NYSE: BORR) showed a price of $7.20 on Friday morning. During the past 12 months, Borr Drilling Limited has had a low of $2.45 and a high of $8.13. The fifty day moving average price for BORR is $7.08 and a two-hundred day moving average price translates $5.93 for the stock.
The latest earnings results from Borr Drilling Limited (NYSE: BORR) was released for Mar, 2023. According to the Oil & Gas Drilling Company, earnings per share came in at -$0.03, missing analysts’ expectations of $0.01 by -0.04. This compares to -$0.35 EPS in the same period last year. The company reported revenue of $172.0 million for the quarter, compared to $82.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 109.76 percent. For the current quarter, analysts expect BORR to generate $183M in revenue.
Borr Drilling Limited(BORR) Company Profile
Borr Drilling Limited operates as an offshore 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. It serves oil and gas exploration and production companies, such as integrated oil companies, state-owned national oil companies, and independent oil and gas companies. The company was formerly known as Magni Drilling Limited and changed its name to Borr Drilling Limited in December 2016. Borr Drilling Limited was incorporated in 2016 and is based in Hamilton, Bermuda.
