324,830 Shares in Borr Drilling Limited $BORR Bought by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new stake in Borr Drilling Limited (NYSE:BORR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 324,830 shares of the company’s stock, valued at approximately $874,000. Sowell Financial Services LLC owned 0.14% of Borr Drilling at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BORR. Millennium Management LLC boosted its holdings in shares of Borr Drilling by 1,025.5% in the 1st quarter. Millennium Management LLC now owns 3,810,556 shares of the company’s stock worth $8,345,000 after buying an additional 3,471,979 shares during the last quarter. Bank of America Corp DE raised its position in Borr Drilling by 14.3% in the second quarter. Bank of America Corp DE now owns 1,883,941 shares of the company’s stock worth $3,448,000 after acquiring an additional 235,967 shares during the period. HRT Financial LP raised its position in Borr Drilling by 252.2% in the second quarter. HRT Financial LP now owns 887,379 shares of the company’s stock worth $1,623,000 after acquiring an additional 635,435 shares during the period. Monaco Asset Management SAM boosted its stake in Borr Drilling by 2,400.0% in the second quarter. Monaco Asset Management SAM now owns 375,000 shares of the company’s stock valued at $686,000 after acquiring an additional 360,000 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Borr Drilling by 7.3% in the second quarter. Rhumbline Advisers now owns 368,777 shares of the company’s stock valued at $675,000 after acquiring an additional 25,219 shares during the last quarter. 83.12% of the stock is owned by hedge funds and other institutional investors.

Borr Drilling Stock Up 0.3%

BORR opened at $4.06 on Wednesday. Borr Drilling Limited has a 12 month low of $1.55 and a 12 month high of $4.48. The company has a market cap of $1.25 billion, a PE ratio of 15.04 and a beta of 1.12. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.70. The company has a 50 day moving average of $3.49 and a 200 day moving average of $2.83.

Borr Drilling (NYSE:BORR) last posted its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. Borr Drilling had a return on equity of 7.02% and a net margin of 7.06%.The firm had revenue of $277.10 million for the quarter, compared to the consensus estimate of $261.44 million.

Analyst Upgrades and Downgrades

BORR has been the topic of a number of research reports. Citigroup reaffirmed a “neutral” rating and issued a $3.75 price target (up previously from $3.25) on shares of Borr Drilling in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Borr Drilling in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Borr Drilling from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Borr Drilling presently has an average rating of “Hold” and an average price target of $3.08.

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.