Borr Drilling Limited (NYSE:BORR) is one of the 10 High PE Stocks Insiders Are Buying.
On March 23, 2026, Borr Drilling Limited (NYSE:BORR) announced it entered into agreements to acquire five premium jack-up rigs from Fontis Finance for $287M through a newly formed 50/50 joint venture with its well construction partner in Mexico. The rigs, consisting of two Friede & Goldman JU-2000E units and three LeTourneau Super 116-C units, are currently located in Mexico. The deal will be financed with a $237M non-recourse seller’s credit and $25M cash contributions from each partner, with closing expected in Q3, subject to customary conditions.
On March 11, 2026, SEB Equities analyst Kim Andre Uggedal downgraded Borr Drilling Limited (NYSE:BORR) to Hold from Buy with a $5.45 price target, citing valuation as the market recovery is reflected in the share price.
On March 9, 2026, the company provided an operational update following hostilities in the Arabian Gulf, noting that three rigs in Qatar and the UAE were down-manned and one rig was shut down after an incident, with all personnel “safe and accounted for,” according to CEO Bruno Morand, as operations remain on standby while conditions stabilize.
Borr Drilling Limited (NYSE:BORR) provides offshore shallow-water drilling services to the oil and gas industry globally.
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