210,000 Borr Drilling Limited $BORR Shares Bought by Vontobel Holding Ltd.

by · The Markets Daily

Vontobel Holding Ltd. lifted its position in Borr Drilling Limited (NYSE:BORR – Free Report) by 89.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 444,000 shares of the company’s stock after acquiring an additional 210,000 shares during the period. Vontobel Holding Ltd.’s holdings in Borr Drilling were worth $1,727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Borr Drilling by 167.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,491,730 shares of the company’s stock worth $20,148,000 after buying an additional 2,185,639 shares during the last quarter. Goehring & Rozencwajg Associates LLC lifted its stake in Borr Drilling by 30.6% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,119,465 shares of the company’s stock valued at $12,229,000 after acquiring an additional 496,302 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Borr Drilling in the first quarter valued at $12,061,000. Empowered Funds LLC lifted its stake in Borr Drilling by 115.2% in the first quarter. Empowered Funds LLC now owns 1,422,598 shares of the company’s stock valued at $8,208,000 after acquiring an additional 761,433 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Borr Drilling by 129.8% in the 2nd quarter. Squarepoint Ops LLC now owns 1,397,369 shares of the company’s stock valued at $5,771,000 after acquiring an additional 789,214 shares during the period. 83.12% of the stock is owned by institutional investors.

Borr Drilling Price Performance

Shares of BORR opened at $4.45 on Tuesday. The firm has a market capitalization of $1.40 billion, a PE ratio of -5.70 and a beta of 1.08. The company’s 50-day moving average is $4.39 and its 200-day moving average is $4.78. Borr Drilling Limited has a fifty-two week low of $2.60 and a fifty-two week high of $6.66. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.53 and a quick ratio of 2.53.

Borr Drilling (NYSE:BORR – Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.58). The company had revenue of $232.30 million for the quarter, compared to analyst estimates of $245.96 million. Borr Drilling had a negative return on equity of 5.95% and a negative net margin of 23.98%. Equities analysts forecast that Borr Drilling Limited will post -0.48 EPS for the current year.

Insider Activity at Borr Drilling

In other news, Director Jeffrey Currie acquired 125,000 shares of Borr Drilling stock in a transaction dated Thursday, August 13th. The stock was bought at an average price 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 in the company, valued at approximately $1,922,486.23. The trade was a 35.27% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Harvey Snowling acquired 300,000 shares of Borr Drilling stock in a transaction dated Wednesday, October 14th. The shares were purchased at an average price of $4.91 per share, with a total value of $1,473,000.00. Following the acquisition, the chief operating officer owned 445,944 shares of the company’s stock, valued at approximately $2,189,585.04. This trade represents a 205.56% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Capital One Financial set a $6.00 price objective on shares of Borr Drilling and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. SEB Equity Research set a $3.55 target price on shares of Borr Drilling in a report on Monday, August 17th. Zacks Research downgraded shares of Borr Drilling from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 15th. Wall Street Zen cut Borr Drilling from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised Borr Drilling from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.27.

Check Out Our Latest Analysis on BORR

Borr Drilling Profile

(Free Report)

Borr Drilling Limited (NYSE: BORR) is an offshore drilling contractor that provides drilling services to oil and gas companies. The company focuses primarily on jack-up rigs, which are mobile offshore drilling units used in relatively shallow waters for exploration, development and production drilling.

Borr Drilling owns and operates a fleet of modern jack-up rigs, including premium and high-specification units designed to work in a range of offshore environments. Its services support customers throughout the drilling life cycle, from exploratory wells to development and production activities.

Established in 2016 and headquartered in Hamilton, Bermuda, Borr Drilling expanded its fleet through the acquisition of jack-up rigs from Transocean in 2017.

See Also

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