DNB Asset Management AS Has $10.42 Million Holdings in Borr Drilling Limited $BORR

DNB Asset Management AS raised its position in Borr Drilling Limited (NYSE:BORR) by 22,394.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,875,175 shares of the company’s stock after purchasing an additional 3,857,948 shares during the quarter. DNB Asset Management AS’s holdings in Borr Drilling were worth $10,424,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BORR. Oak Thistle LLC bought a new stake in Borr Drilling in the 3rd quarter valued at approximately $29,000. Baader Bank Aktiengesellschaft acquired a new position in Borr Drilling during the third quarter worth $30,000. Jamison Private Wealth Management Inc. bought a new position in Borr Drilling in the third quarter valued at $31,000. Federated Hermes Inc. bought a new position in Borr Drilling in the third quarter valued at $35,000. Finally, Interchange Capital Partners LLC acquired a new stake in Borr Drilling in the 3rd quarter valued at $36,000. 83.12% of the stock is owned by institutional investors and hedge funds.

Borr Drilling Price Performance

Shares of NYSE BORR opened at $6.13 on Friday. The company has a quick ratio of 1.63, a current ratio of 2.19 and a debt-to-equity ratio of 1.65. The business’s 50 day moving average price is $4.78 and its two-hundred day moving average price is $3.68. The company has a market cap of $1.93 billion, a PE ratio of 36.03 and a beta of 1.11. Borr Drilling Limited has a twelve month low of $1.55 and a twelve month high of $6.18.

Borr Drilling (NYSE:BORR) last issued its earnings results on Wednesday, February 18th. The company reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.03. Borr Drilling had a return on equity of 4.14% and a net margin of 4.41%.The company had revenue of $259.40 million during the quarter, compared to the consensus estimate of $238.65 million.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BORR. Weiss Ratings restated a “hold (c-)” rating on shares of Borr Drilling in a research note on Wednesday, January 21st. Citigroup increased their price target on Borr Drilling from $6.00 to $6.25 and gave the company a “neutral” rating in a research report on Wednesday. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.33.

About Borr Drilling

Borr Drilling is an international offshore drilling contractor providing premium jack-up drilling services to the oil and gas industry. Established in 2016 and incorporated in Bermuda with headquarters in Hamilton, the company is listed on the New York Stock Exchange under the ticker symbol BORR. Borr Drilling focuses exclusively on the ownership and operation of mobile offshore jack-up rigs, catering to exploration and production drilling projects in both mature and emerging hydrocarbon regions.

The company’s core business activities encompass the long-term contracting of high-specification jack-up rigs suitable for shallow-to-intermediate water depths.