Borr Drilling Limited (NYSE:BORR – Get Free Report) was up 4.3% on Friday . The company traded as high as $6.76 and last traded at $6.74. Approximately 691,002 shares were traded during trading, a decline of 66% from the average daily volume of 2,059,975 shares. The stock had previously closed at $6.46.
Analysts Set New Price Targets
Separately, Evercore ISI lowered their price objective on Borr Drilling from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Friday, February 23rd.
Check Out Our Latest Analysis on BORR
Borr Drilling Trading Up 5.3 %
Borr Drilling (NYSE:BORR – Get Free Report) last announced its quarterly earnings results on Thursday, May 23rd. The company reported $0.06 EPS for the quarter. Borr Drilling had a return on equity of 2.38% and a net margin of 2.86%. The business had revenue of $234.00 million for the quarter.
Institutional Investors Weigh In On Borr Drilling
Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its holdings in Borr Drilling by 111.6% during 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. Covestor Ltd increased its holdings in shares of Borr Drilling by 31,600.0% in the 1st quarter. Covestor Ltd now owns 5,706 shares of the company’s stock valued at $39,000 after acquiring an additional 5,688 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Borr Drilling during the 1st quarter worth about $88,000. SG Americas Securities LLC acquired a new stake in shares of Borr Drilling during the 1st quarter worth about $89,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Borr Drilling during the 3rd quarter worth about $94,000. Hedge funds and other institutional investors own 83.12% of the company’s stock.
About Borr Drilling
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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