Squarepoint Ops LLC Purchases 789,214 Shares of Borr Drilling Limited $BORR

Squarepoint Ops LLC grew its holdings in shares of Borr Drilling Limited (NYSE:BORR) by 129.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,397,369 shares of the company’s stock after purchasing an additional 789,214 shares during the quarter. Squarepoint Ops LLC owned about 0.44% of Borr Drilling worth $5,771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System lifted its stake in shares of Borr Drilling by 18.2% during the 4th quarter. California State Teachers Retirement System now owns 16,390 shares of the company’s stock valued at $66,000 after buying an additional 2,529 shares in the last quarter. Abel Hall LLC lifted its position in shares of Borr Drilling by 11.3% during the first quarter. Abel Hall LLC now owns 25,262 shares of the company’s stock worth $146,000 after acquiring an additional 2,566 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Borr Drilling by 7.8% in the first quarter. SG Americas Securities LLC now owns 40,732 shares of the company’s stock worth $235,000 after acquiring an additional 2,963 shares during the period. Mariner LLC grew its position in shares of Borr Drilling by 13.1% in the fourth quarter. Mariner LLC now owns 26,623 shares of the company’s stock valued at $107,000 after purchasing an additional 3,094 shares in the last quarter. Finally, AXQ Capital LP raised its stake in shares of Borr Drilling by 2.6% during the 2nd quarter. AXQ Capital LP now owns 124,639 shares of the company’s stock valued at $515,000 after purchasing an additional 3,180 shares during the period. Institutional investors own 83.12% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BORR shares. SEB Equity Research set a $3.55 price objective on Borr Drilling in a research note on Monday, August 17th. Capital One Financial set a $6.00 price target on Borr Drilling and gave the company an “overweight” rating in a report on Wednesday, July 1st. Zacks Research upgraded Borr Drilling to a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings cut shares of Borr Drilling from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen downgraded Borr Drilling from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Borr Drilling presently has a consensus rating of “Moderate Buy” and an average price target of $5.27.

Borr Drilling Stock Performance

Shares of BORR stock opened at $4.26 on Friday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -5.47 and a beta of 1.03. The stock has a fifty day moving average of $4.29 and a 200 day moving average of $5.00. Borr Drilling Limited has a 52 week low of $2.44 and a 52 week high of $6.66. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 2.58.

Borr Drilling (NYSE:BORR) last released its earnings results on Wednesday, August 12th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). The firm had revenue of $232.30 million during the quarter, compared to analysts’ expectations of $245.96 million. Borr Drilling had a negative net margin of 23.98% and a negative return on equity of 5.95%. As a group, research analysts expect that Borr Drilling Limited will post -0.13 earnings per share for the current year.

Insider Activity at Borr Drilling

In related news, Director Jeffrey Currie purchased 125,000 shares of Borr Drilling stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of $4.01 per share, for a total transaction of $501,250.00. Following the completion of the acquisition, the director directly owned 479,423 shares of the company’s stock, valued at $1,922,486.23. The trade was a 35.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.90% of the stock is currently owned by corporate insiders.

Borr Drilling Company Profile

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.