Borr Drilling Limited $BORR Shares Purchased by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL raised its holdings in Borr Drilling Limited (NYSE:BORR) by 77.7% in the third quarter, Holdings Channel.com reports. The fund owned 657,411 shares of the company’s stock after acquiring an additional 287,428 shares during the period. Tudor Investment Corp ET AL’s holdings in Borr Drilling were worth $1,768,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BORR. Oak Thistle LLC acquired a new position in shares of Borr Drilling in the 3rd quarter worth approximately $29,000. Baader Bank Aktiengesellschaft acquired a new stake in Borr Drilling during the third quarter valued at approximately $30,000. Jamison Private Wealth Management Inc. acquired a new stake in Borr Drilling during the third quarter valued at approximately $31,000. Federated Hermes Inc. bought a new stake in Borr Drilling during the third quarter worth approximately $35,000. Finally, Interchange Capital Partners LLC bought a new stake in Borr Drilling during the third quarter worth approximately $36,000. Institutional investors own 83.12% of the company’s stock.

Analyst Ratings Changes

BORR has been the topic of several research reports. Wall Street Zen cut Borr Drilling from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup raised their price objective on Borr Drilling from $6.00 to $6.25 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings cut Borr Drilling from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $4.33.

Borr Drilling Trading Up 1.9%

Borr Drilling stock opened at $6.04 on Friday. Borr Drilling Limited has a 52 week low of $1.55 and a 52 week high of $6.25. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.63 and a current ratio of 2.19. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 35.50 and a beta of 1.00. The company has a 50 day moving average price of $5.28 and a 200 day moving average price of $4.05.

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

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.