Regal Partners Ltd Takes Position in Borr Drilling Limited $BORR

Regal Partners Ltd bought a new stake in shares of Borr Drilling Limited (NYSE:BORR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 147,068 shares of the company’s stock, valued at approximately $849,000.

Other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its stake in Borr Drilling by 2,435.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock worth $34,000 after buying an additional 8,133 shares in the last quarter. Inspire Advisors LLC purchased a new position in shares of Borr Drilling in the fourth quarter valued at about $44,000. Cetera Investment Advisers bought a new position in shares of Borr Drilling in the first quarter worth about $66,000. Quadrature Capital Ltd bought a new position in shares of Borr Drilling in the fourth quarter worth about $47,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Borr Drilling during the fourth quarter worth about $49,000. Institutional investors own 83.12% of the company’s stock.

Borr Drilling Trading Down 5.0%

Shares of NYSE BORR opened at $3.90 on Wednesday. Borr Drilling Limited has a 1-year low of $1.86 and a 1-year high of $6.66. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.63 and a quick ratio of 1.63. The business’s 50 day moving average is $4.59 and its two-hundred day moving average is $5.14. The stock has a market capitalization of $1.23 billion, a P/E ratio of 26.03 and a beta of 1.00.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, May 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company had revenue of $247.00 million during the quarter, compared to the consensus estimate of $253.35 million. Borr Drilling had a net margin of 3.13% and a return on equity of 2.88%. As a group, research analysts expect that Borr Drilling Limited will post -0.13 EPS for the current year.

Insider Buying and Selling at Borr Drilling

In related news, Director Thiago Mordehachvili sold 8,000,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $4.70, for a total transaction of $37,600,000.00. Following the sale, the director owned 38,199,677 shares in the company, valued at approximately $179,538,481.90. This represents a 17.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BORR. Zacks Research raised Borr Drilling to a “hold” rating in a research note on Thursday, July 2nd. Fearnley Fonds upgraded Borr Drilling from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Capital One Financial set a $6.00 price objective on shares of Borr Drilling and gave the company an “overweight” rating in a report on Wednesday, July 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Borr Drilling in a research report on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of Borr Drilling from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $4.88.

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.