BORR

Borr Drilling Filing: Borr Drilling (BORR) has filed for an automatic mixed securities shelf, indicating potential future capital-raising activities.

Investment Opportunities: Investors are encouraged to utilize Tipranks' Stock Screener to discover outperforming stocks and streamline their investment searches.

New Contract Commitments: Borr Drilling has secured new contracts for three premium jack-up rigs, expected to generate approximately $120 million in revenue over a combined duration of 774 days.

Operational Resumption: The company anticipates a significant improvement in rig utilization and revenue starting in Q2 2025, as six previously idle rigs are set to resume operations following remobilization notices.

New Contract Commitments: Borr Drilling Limited has secured contracts for three jack-up rigs, "Thor", "Gerd", and "Norve", totaling approximately $120 million in estimated revenues over 774 days, alongside re-mobilization notices for three other rigs previously suspended in Mexico.

Fleet Developments and Future Outlook: The company anticipates significant improvements in rig utilization and revenue starting Q2 2025, with ongoing operations in Southeast Asia and West Africa, as well as new long-term contracts in Brazil and Libya.

ETF Analysis: The Vanguard U.S. Value Factor ETF (VFVA) has an implied analyst target price of $137.83, indicating a potential upside of 29.04% from its current trading price of $106.81.

Stock Performance Insights: Notable underlying holdings such as Borr Drilling Ltd, Denny's Corp, and Nordic American Tankers show significant upside potential based on analyst targets, raising questions about the validity of these optimistic projections.

Annual General Meeting Announcement: Borr Drilling Limited will hold its Annual General Meeting on May 21, 2025, with a record date for shareholders set as March 6, 2025.

Additional Information: Shareholders will receive the Notice of the Annual General Meeting and Form of Proxy through normal distribution methods, and further details are available on the company's website.

Dividend Stocks Near 52-Week Lows: Several dividend stocks are trading close to their 52-week lows and are approaching their ex-dividend dates this week, making them potential investment opportunities for dividend payouts.

List of Stocks: The article lists ten specific stocks (TROX, BORR, ULH, UFPI, MLM, PVH, SSTK, BHP, TEX, TFX) that investors can consider buying before the ex-dividend dates to qualify for upcoming dividends.

Seatrium and BP Collaboration: Seatrium has signed a memorandum of understanding with BP for the Tiber floating production unit project in the Gulf of Mexico, focusing on engineering, procurement, construction, and commissioning services to enhance deep-water production.

Project Background and Future Plans: The Tiber FPU project will leverage advancements from the Kaskida project, with a contract award dependent on BP's final investment decision expected in 2025.

Payment Settlement Announcement: Borr Drilling Limited has reached an agreement with a major Mexican customer to settle approximately $125 million in outstanding receivables, expected to be collected in February 2025.

Future Opportunities: The CEO of Borr Drilling highlighted that this payment reflects the Mexican government's commitment to establishing a sustainable supplier payment mechanism, which could positively impact future offshore drilling opportunities in Mexico.

NASDAQ 100 After Hours Performance: The NASDAQ 100 is up by 78.05 points, with a total after-hours trading volume of over 154 million shares. Notable active stocks include NVIDIA down 1.34, Intel up 0.57, and Apple down 3.59.

Upcoming Earnings Reports: Companies like Lumen Technologies, Amazon, and Roblox are scheduled to release earnings reports in early February 2025, with Amazon expected to show a significant increase in earnings per share compared to the previous year.

Financial Results Announcement: Borr Drilling Limited will release its fourth quarter 2024 financial results on February 19, 2025, after the New York Stock Exchange closes.

Conference Call Details: A conference call and webcast to discuss the earnings report is scheduled for February 20, 2025, at 15:00 CEST (9:00 AM New York Time), with participants encouraged to join 10 minutes early.

Borr Drilling Presentation: Borr Drilling Limited will present at the Fearnley Securities' Annual Offshore Drilling Seminar in New York and London on January 15 and 16, 2025.

Presentation Availability: A copy of the presentation is available on the company's website for interested parties.

Borr Drilling Presentation: Borr Drilling Limited will present at the Fearnley Securities' Annual Offshore Drilling Seminar in New York and London on January 15 and 16, 2025.

Presentation Availability: A copy of the presentation is available on the company's website for interested parties.

Education & Training Services Performance: Shares in education and training services are up by approximately 1.3%, with Chegg leading the gains at 5.9% and Udemy following at 2%.

Sector Leaders Overview: The report highlights strong performance in sectors such as Oil & Gas Exploration & Production alongside Education & Training Services on Tuesday.

Share Repurchase Program: Borr Drilling Limited has launched a $10 million share repurchase program, acquiring over 2.27 million shares at an average price of $3.763 each, as part of a broader plan to buy back $20 million in shares by the end of 2024.

Impact on Shareholder Value: This initiative is aimed at enhancing shareholder value by reducing the number of shares in circulation, which could indicate the company's confidence in its financial stability and future prospects.

Share Repurchase Program Initiation: Borr Drilling Limited launched a share repurchase program on December 13, 2024, aiming to buy back $10 million of its common shares by December 31, 2024, as part of a larger commitment to repurchase $20 million worth of shares.

Details of Share Transactions: Between December 13 and December 20, 2024, the company repurchased 2,279,305 shares at an average price of $3.763 per share, totaling approximately $8.58 million, resulting in a total of 4,745,586 shares repurchased, which is 1.80% of the company's total issued shares.

Borr Drilling Update: Borr Drilling Limited has granted 112,780 Restricted Share Units to its directors, aligning their interests with shareholder value by enhancing their stakes in the company.

Stock Analysis Resources: Investors can find further insights and analysis on BORR stock through TipRanks’ Stock Analysis page.

Share Repurchase Program: Borr Drilling Limited has initiated a share repurchase program, committing to buy back $20 million worth of shares by the end of 2024, with the first tranche of $10 million already completed and a second tranche set to begin on December 13, 2024.

Market Regulations Compliance: The share repurchases will be conducted in accordance with market regulations, and the company has stated that it may suspend or discontinue the repurchase at any time without notice.

New Contract Announcement: Borr Drilling has secured a new contract for its jackup rig Norve in West Africa, with a dayrate of approximately $181,250 for a 320-day assignment starting in Q3 2025, contributing an additional $58 million to its revenue backlog.

Current Operations and Future Plans: The Norve rig is currently engaged with BW Energy in Gabon until February and will then work with Marathon Oil from February to June next year before commencing the new contract.

New Contract Announcement: Borr Drilling Limited has secured a contract for its jack-up rig "Norve" in West Africa, continuing work with Marathon Oil, estimated to start in Q3 2025 and valued at $58 million for five firm wells.

Forward Looking Statements: The announcement includes forward-looking statements that are subject to various risks and uncertainties, which may cause actual results to differ from expectations.

Analyst Rating and Price Target: BTIG analyst Gregory Lewis has maintained a Buy rating on Borr Drilling (BORR) with a price target of $6.00, while the shares closed at $3.36. The company has a Moderate Buy consensus with a price target of $7.50.

Company Overview: Borr Drilling Ltd. provides drilling services to the oil and gas industry and has a market cap of $882.7 million with a P/E ratio of 10.31.