Borr Drilling (NYSE:BORR) Stock Rating Upgraded by Evercore ISI

Borr Drilling (NYSE:BORR) was upgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued to clients and investors on Friday, FinViz reports. The firm currently has a $9.00 target price on the stock. Evercore ISI’s price target indicates a potential upside of 70.45% from the stock’s previous close.

Borr Drilling Stock Performance

Borr Drilling stock opened at $5.28 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.57 and a current ratio of 1.57. The stock’s 50 day moving average is $6.23 and its 200 day moving average is $6.20. Borr Drilling has a twelve month low of $5.09 and a twelve month high of $7.80.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter. Borr Drilling had a return on equity of 7.69% and a net margin of 8.15%. The company had revenue of $271.90 million for the quarter.

Hedge Funds Weigh In On Borr Drilling

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in Borr Drilling by 111.6% in the 4th quarter. Quadrant Capital Group LLC now owns 4,472 shares of the company’s stock worth $33,000 after purchasing an additional 2,359 shares during the period. Trexquant Investment LP raised its holdings in Borr Drilling by 41.1% during the fourth quarter. Trexquant Investment LP now owns 102,343 shares of the company’s stock valued at $753,000 after acquiring an additional 29,802 shares during the period. Capital International Investors raised its holdings in Borr Drilling by 38.3% during the fourth quarter. Capital International Investors now owns 13,007,254 shares of the company’s stock valued at $96,318,000 after acquiring an additional 3,604,908 shares during the period. Capital International Sarl bought a new stake in Borr Drilling during the fourth quarter valued at about $2,555,000. Finally, Goehring & Rozencwajg Associates LLC raised its holdings in Borr Drilling by 3.5% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 819,185 shares of the company’s stock valued at $6,029,000 after acquiring an additional 27,880 shares during the period. 83.12% of the stock is owned by 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.