Regal Partners Ltd Acquires New Stake in Borr Drilling Limited $BORR

Regal Partners Ltd bought a new position in shares of Borr Drilling Limited (NYSE:BORR) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 147,068 shares of the company’s stock, valued at approximately $849,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its position in shares of Borr Drilling by 2,435.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock valued at $34,000 after acquiring an additional 8,133 shares during the last quarter. Abel Hall LLC purchased a new position in shares of Borr Drilling during the third quarter worth about $43,000. Oxford Asset Management LLP bought a new position in shares of Borr Drilling in the second quarter worth approximately $43,000. Inspire Advisors LLC bought a new position in shares of Borr Drilling in the fourth quarter worth approximately $44,000. Finally, Focus Partners Wealth purchased a new stake in Borr Drilling in the third quarter valued at approximately $45,000. 83.12% of the stock is currently owned by institutional investors.

Insider Transactions at Borr Drilling

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

Borr Drilling Price Performance

BORR opened at $3.90 on Wednesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $1.23 billion, a PE ratio of 26.03 and a beta of 1.00. The stock’s 50 day moving average price is $4.59 and its 200-day moving average price is $5.14. Borr Drilling Limited has a 52-week low of $1.86 and a 52-week high of $6.66.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on BORR shares. Fearnley Fonds upgraded Borr Drilling from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Zacks Research upgraded Borr Drilling to a “hold” rating in a report on Thursday, July 2nd. Capital One Financial set a $6.00 price objective on Borr Drilling and gave the company an “overweight” rating in a research 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 cut Borr Drilling from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Two equities research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.88.

Borr Drilling 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.