Deutsche Bank AG Cuts Stock Holdings in Borr Drilling Limited (NYSE:BORR)

Deutsche Bank AG reduced its stake in shares of Borr Drilling Limited (NYSE:BORR - Free Report) by 59.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,890 shares of the company's stock after selling 280,972 shares during the period. Deutsche Bank AG owned 0.07% of Borr Drilling worth $737,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC boosted its holdings in shares of Borr Drilling by 52.9% during the 3rd quarter. Barclays PLC now owns 718,537 shares of the company's stock worth $3,944,000 after purchasing an additional 248,482 shares during the last quarter. Tejara Capital Ltd boosted its holdings in shares of Borr Drilling by 46.8% during the 4th quarter. Tejara Capital Ltd now owns 2,201,589 shares of the company's stock worth $8,418,000 after purchasing an additional 701,478 shares during the last quarter. Rovida Investment Management Ltd acquired a new position in shares of Borr Drilling during the 4th quarter worth approximately $5,070,000. FIL Ltd boosted its holdings in shares of Borr Drilling by 2.4% during the 4th quarter. FIL Ltd now owns 11,593,801 shares of the company's stock worth $45,216,000 after purchasing an additional 267,791 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new position in shares of Borr Drilling during the 4th quarter worth approximately $748,000. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Borr Drilling Trading Down 5.4%

BORR traded down $0.10 during trading hours on Friday, reaching $1.74. The company's stock had a trading volume of 3,506,168 shares, compared to its average volume of 3,915,702. Borr Drilling Limited has a fifty-two week low of $1.55 and a fifty-two week high of $7.09. The stock has a market cap of $416.40 million, a PE ratio of 5.44 and a beta of 1.77. The business's 50-day moving average is $1.87 and its 200-day moving average is $2.82. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41.

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

Borr Drilling Profile

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.