Bank of America Corp DE Raises Stock Holdings in Borr Drilling Limited (NYSE:BORR)

Bank of America Corp DE boosted its position in Borr Drilling Limited (NYSE:BORR - Free Report) by 169.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 486,808 shares of the company's stock after acquiring an additional 305,935 shares during the period. Bank of America Corp DE owned 0.19% of Borr Drilling worth $1,899,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in Borr Drilling by 828.2% in the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company's stock valued at $30,000 after acquiring an additional 6,775 shares during the period. SBI Securities Co. Ltd. purchased a new position in Borr Drilling during the 4th quarter valued at about $59,000. Natixis purchased a new position in Borr Drilling during the 4th quarter valued at about $58,000. CacheTech Inc. purchased a new position in Borr Drilling during the 4th quarter valued at about $81,000. Finally, Cibc World Markets Corp purchased a new position in Borr Drilling during the 4th quarter valued at about $87,000. 83.12% of the stock is currently owned by institutional investors.

Borr Drilling Price Performance

BORR stock traded up $0.13 during mid-day trading on Friday, reaching $1.94. 4,159,523 shares of the company traded hands, compared to its average volume of 3,985,215. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market capitalization of $464.26 million, a P/E ratio of 6.06 and a beta of 1.77. Borr Drilling Limited has a 52-week low of $1.55 and a 52-week high of $7.09. The company has a fifty day moving average price of $1.83 and a 200-day moving average price of $2.76.

Borr Drilling (NYSE:BORR - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). The company had revenue of $217.50 million for the quarter, compared to analysts' expectations of $231.17 million. Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%.

About Borr Drilling

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.