Borr Drilling Limited $BORR Shares Acquired by Goehring & Rozencwajg Associates LLC

Key Points

• Goehring & Rozencwajg Associates LLC increased its Borr Drilling stake by 30.6% in the first quarter, adding 496,302 shares to bring its holdings to 2.12 million shares worth about $12.2 million.
• Analyst sentiment is mixed: while some firms upgraded the stock, others downgraded it, leaving Borr Drilling with an overall “Moderate Buy” rating and an average price target of $4.88.
• Borr Drilling reported a quarterly EPS miss and slightly lower-than-expected revenue, and the stock was trading down 2.4% at $4.32; the company also saw a major insider sale by Director Thiago Mordehachvili.

Goehring & Rozencwajg Associates LLC lifted its position in shares of Borr Drilling Limited (NYSE:BORR - Free Report) by 30.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,119,465 shares of the company's stock after acquiring an additional 496,302 shares during the quarter. Goehring & Rozencwajg Associates LLC owned 0.67% of Borr Drilling worth $12,229,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its holdings in Borr Drilling by 2,435.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company's stock worth $34,000 after purchasing an additional 8,133 shares during the period. Oxford Asset Management LLP acquired a new stake in Borr Drilling in the second quarter valued at approximately $43,000. Abel Hall LLC acquired a new stake in Borr Drilling in the third quarter valued at approximately $43,000. Inspire Advisors LLC purchased a new stake in shares of Borr Drilling in the fourth quarter valued at approximately $44,000. Finally, Focus Partners Wealth purchased a new stake in shares of Borr Drilling in the third quarter valued at approximately $45,000. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BORR shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Borr Drilling in a research report on Wednesday, June 24th. Zacks Research raised shares of Borr Drilling to a "hold" rating in a report on Thursday, July 2nd. Wall Street Zen cut shares of Borr Drilling from a "hold" rating to a "sell" rating in a research report on Saturday, April 18th. Fearnley Fonds upgraded shares of Borr Drilling from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 21st. Finally, Capital One Financial set a $6.00 target price on shares of Borr Drilling and gave the stock an "overweight" rating in a research note on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $4.88.

Insider Transactions at Borr Drilling

In related news, Director Thiago Mordehachvili sold 8,000,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $4.70, for a total transaction of $37,600,000.00. Following the completion of the sale, the director owned 38,199,677 shares of the company's stock, valued at approximately $179,538,481.90. This represents a 17.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.90% of the company's stock.

Borr Drilling Trading Down 2.4%

Shares of BORR opened at $4.32 on Thursday. Borr Drilling Limited has a 52-week low of $1.85 and a 52-week high of $6.66. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.82. The firm's fifty day moving average is $4.95 and its two-hundred day moving average is $5.13. The stock has a market cap of $1.36 billion, a PE ratio of 28.77 and a beta of 1.00.

Borr Drilling (NYSE:BORR - Get Free Report) last released its earnings results on Wednesday, May 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The business had revenue of $247.00 million for the quarter, compared to analysts' expectations of $253.35 million. Borr Drilling had a return on equity of 2.88% and a net margin of 3.13%. Research analysts forecast that Borr Drilling Limited will post -0.13 earnings per share for the current fiscal year.

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.

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