Borr Drilling (NYSE:BORR) Raised to “Buy” at Clarkson Capital

Clarkson Capital upgraded shares of Borr Drilling (NYSE:BORRGet Rating) from a neutral rating to a buy rating in a research note published on Tuesday, The Fly reports.

Separately, DNB Markets began coverage on Borr Drilling in a report on Monday, September 12th. They issued a buy rating for the company.

Borr Drilling Trading Down 1.3 %

NYSE BORR opened at $3.75 on Tuesday. The stock has a 50-day simple moving average of $3.78 and a 200 day simple moving average of $4.24. The company has a market capitalization of $571.86 million, a PE ratio of -1.86 and a beta of 3.62. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.40. Borr Drilling has a 12 month low of $1.45 and a 12 month high of $6.96.

Borr Drilling (NYSE:BORRGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.27) earnings per share (EPS) for the quarter. Borr Drilling had a negative return on equity of 20.05% and a negative net margin of 89.65%. The business had revenue of $105.30 million during the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new position in shares of Borr Drilling during the second quarter worth about $26,000. Optiver Holding B.V. acquired a new position in shares of Borr Drilling during the second quarter worth about $44,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Borr Drilling during the second quarter worth about $59,000. Principal Financial Group Inc. acquired a new position in shares of Borr Drilling during the second quarter worth about $62,000. Finally, ProShare Advisors LLC acquired a new position in shares of Borr Drilling during the second quarter worth about $70,000.

About Borr Drilling

(Get Rating)

Borr Drilling Limited operates as an offshore drilling contractor to the oil and gas industry worldwide. It owns, contracts, and operates jack-up 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.

Recommended Stories

The Fly logo

Receive News & Ratings for Borr Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Borr Drilling and related companies with MarketBeat.com's FREE daily email newsletter.