UBS Group AG Sells 135,545 Shares of Borr Drilling Limited $BORR

UBS Group AG decreased its position in Borr Drilling Limited (NYSE:BORR) by 5.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,336,705 shares of the company’s stock after selling 135,545 shares during the quarter. UBS Group AG owned 0.74% of Borr Drilling worth $9,417,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. DNB Asset Management AS grew its holdings in shares of Borr Drilling by 22,394.8% in the 3rd quarter. DNB Asset Management AS now owns 3,875,175 shares of the company’s stock worth $10,424,000 after purchasing an additional 3,857,948 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Borr Drilling by 77.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 657,411 shares of the company’s stock worth $1,768,000 after purchasing an additional 287,428 shares during the last quarter. TT International Asset Management LTD bought a new stake in shares of Borr Drilling in the 4th quarter worth about $1,024,000. Tejara Capital Ltd grew its holdings in shares of Borr Drilling by 56.6% in the 3rd quarter. Tejara Capital Ltd now owns 1,518,261 shares of the company’s stock worth $4,084,000 after purchasing an additional 548,441 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. bought a new stake in shares of Borr Drilling in the 3rd quarter worth about $735,000. Institutional investors own 83.12% of the company’s stock.

Analyst Ratings Changes

BORR has been the topic of several analyst reports. Fearnley Fonds raised shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Weiss Ratings lowered shares of Borr Drilling from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Wall Street Zen lowered shares of Borr Drilling from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Finally, Citigroup increased their price objective on shares of Borr Drilling from $6.00 to $6.25 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.33.

Borr Drilling Stock Performance

Borr Drilling stock opened at $6.25 on Friday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. Borr Drilling Limited has a 1 year low of $1.55 and a 1 year high of $6.38. The company has a market cap of $1.97 billion, a PE ratio of 36.74 and a beta of 1.04. The company’s 50-day moving average is $5.67 and its two-hundred day moving average is $4.74.

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

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.