Borr Drilling Director Troim Adds 200,000 Shares in $874,000 Buy
Director Tor Olav Troim bought 200,000 Borr Drilling shares at $4.37 on Aug. 25. The $874,000 purchase follows a $2 million buy days earlier, bringing his total stake to 29.5 million shares.
Borr Drilling Ltd currently carries an Alpha Score of n/a, giving AlphaScala's model a neutral read on the setup.
Director Tor Olav Troim bought 200,000 shares of Borr Drilling (NYSE: BORR) on Aug. 25, according to an SEC Form 4 filing. The purchase was executed at a weighted average price of $4.37, for a total transaction value of roughly $874,000.
The shares were acquired through Drew Trust, an entity wholly owned by Drew Holdings Ltd., for which Troim is the beneficiary. After the transaction, his total beneficial ownership stands at approximately 29.5 million shares. That figure includes 54,545 restricted stock units that are scheduled to vest in full on Sept. 30, 2026.
Borr Drilling shares closed at $4.38 on Aug. 24, near the purchase price. The company has a market capitalization of $1.3 billion and trailing 12-month revenue of $1.0 billion. It reported a net loss of $240.6 million over that period.
The offshore drilling contractor operates a fleet of 34 jack-up rigs after a recent expansion that positions it to serve the Mexican market. Borr provides shallow-water drilling services to oil and gas exploration and production companies across the Americas, West Africa, Southeast Asia, the Middle East, and Europe.
For 2026, the company expects revenue of about $1.054 billion, a 3% rise from the prior year. The outlook calls for a net loss of roughly $50 million, driven by customer delays and higher operating expenses. Longer term, Wall Street analysts project revenue growth of about 30% over three years as existing contracts expire and new deals take effect, according to consensus estimates.
Troim has served as a director since Borr's incorporation. He held the chairman role from August 2017 to September 2019 and again from February 2022 to September 2025. His latest purchase follows a separate buy of more than $2 million in shares just days earlier.
The insider buying cluster comes as Borr Drilling navigates near-term earnings pressure while positioning for a recovery in the offshore drilling market. The next scheduled catalyst is the vesting of Troim's restricted stock units at the end of September.
Brendan Coffey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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