Tejara Capital Ltd Sells 591,863 Shares of Borr Drilling Limited $BORR

Tejara Capital Ltd lessened its position in shares of Borr Drilling Limited (NYSE:BORR) by 39.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 926,398 shares of the company’s stock after selling 591,863 shares during the quarter. Borr Drilling comprises 0.9% of Tejara Capital Ltd’s portfolio, making the stock its 22nd biggest holding. Tejara Capital Ltd owned approximately 0.29% of Borr Drilling worth $3,733,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft bought a new position in shares of Borr Drilling during the 3rd quarter valued at approximately $30,000. Federated Hermes Inc. purchased a new position in shares of Borr Drilling in the third quarter valued at $35,000. Interchange Capital Partners LLC bought a new stake in Borr Drilling in the third quarter worth $36,000. Compagnie Lombard Odier SCmA purchased a new stake in Borr Drilling during the third quarter valued at $40,000. Finally, Abel Hall LLC purchased a new stake in Borr Drilling during the third quarter valued at $43,000. Institutional investors own 83.12% of the company’s stock.

Borr Drilling Stock Up 3.9%

Shares of BORR opened at $6.30 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 1.65. The business has a fifty day moving average of $5.66 and a 200 day moving average of $4.73. The company has a market cap of $1.99 billion, a PE ratio of 37.03 and a beta of 1.04. Borr Drilling Limited has a 52-week low of $1.55 and a 52-week high of $6.33.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.03. The business had revenue of $259.40 million for the quarter, compared to analysts’ expectations of $238.65 million. Borr Drilling had a net margin of 4.41% and a return on equity of 4.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of Borr Drilling from $6.00 to $6.25 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Fearnley Fonds upgraded shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of Borr Drilling from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Finally, Weiss Ratings lowered Borr Drilling from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.33.

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.