Borr Drilling Limited $BORR Stake Boosted by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL increased its stake in Borr Drilling by 77.7% in Q3 to 657,411 shares (0.28% of the company) worth about $1.77 million, and institutional investors now own 83.12% of the stock.
• Analyst sentiment is cautious: the consensus rating is "Reduce" with a $4.33 target after several downgrades to Sell, although Citigroup raised its target to $6.25 with a Neutral rating.
• Borr recently beat expectations, reporting $0.00 EPS vs. a ($0.03) estimate and $259.4M revenue vs. $238.65M expected, while the stock trades near $6.04 (52-week high $6.25) with a $1.90 billion market cap.

Tudor Investment Corp ET AL increased its stake in Borr Drilling Limited (NYSE:BORR - Free Report) by 77.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 657,411 shares of the company's stock after purchasing an additional 287,428 shares during the period. Tudor Investment Corp ET AL owned 0.28% of Borr Drilling worth $1,768,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BORR. Oak Thistle LLC bought a new stake in Borr Drilling in the third quarter valued at $29,000. Baader Bank Aktiengesellschaft bought a new position in shares of Borr Drilling during the third quarter worth about $30,000. Jamison Private Wealth Management Inc. acquired a new stake in shares of Borr Drilling in the 3rd quarter worth about $31,000. Federated Hermes Inc. acquired a new stake in shares of Borr Drilling in the 3rd quarter worth about $35,000. Finally, Interchange Capital Partners LLC bought a new stake in Borr Drilling in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 83.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BORR. Citigroup boosted their target price on shares of Borr Drilling from $6.00 to $6.25 and gave the company a "neutral" rating in a research note on Wednesday, February 25th. Weiss Ratings cut Borr Drilling from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday. Finally, Wall Street Zen downgraded Borr Drilling from a "hold" rating to a "sell" rating in a research report on Saturday. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $4.33.

Borr Drilling Stock Up 1.9%

BORR stock opened at $6.04 on Friday. The firm's 50-day moving average is $5.28 and its two-hundred day moving average is $4.05. The company has a current ratio of 2.19, a quick ratio of 1.63 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 35.50 and a beta of 1.00. Borr Drilling Limited has a 52 week low of $1.55 and a 52 week high of $6.25.

Borr Drilling (NYSE:BORR - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.03. The firm had revenue of $259.40 million for the quarter, compared to analysts' expectations of $238.65 million. Borr Drilling had a return on equity of 4.14% and a net margin of 4.41%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.