GeoSphere Capital Management LLC Takes Position in Borr Drilling Limited $BORR

Key Points

• GeoSphere Capital Management disclosed a new fourth-quarter stake in Borr Drilling, buying 1.385 million shares valued at about $5.6 million. The position makes BORR its 7th-largest holding and represents roughly 0.44% of the company.
• Borr Drilling’s latest quarter disappointed, with EPS of -$0.09 versus expectations of -$0.02 and revenue of $247.0 million below consensus. The weaker results included a larger net loss and softer adjusted EBITDA.
• Despite the earnings miss, management pointed to growth catalysts, including the acquisition of five premium jack-up rigs and 13 contract commitments year to date totaling more than 2,250 days and $274 million in backlog.

GeoSphere Capital Management LLC acquired a new stake in shares of Borr Drilling Limited (NYSE:BORR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,385,000 shares of the company's stock, valued at approximately $5,582,000. Borr Drilling accounts for about 1.8% of GeoSphere Capital Management LLC's investment portfolio, making the stock its 7th largest position. GeoSphere Capital Management LLC owned approximately 0.44% of Borr Drilling as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of Borr Drilling during the fourth quarter valued at approximately $2,027,000. ProShare Advisors LLC raised its stake in shares of Borr Drilling by 14.9% during the fourth quarter. ProShare Advisors LLC now owns 48,651 shares of the company's stock valued at $196,000 after purchasing an additional 6,314 shares during the period. DNB Asset Management AS raised its stake in shares of Borr Drilling by 126.4% during the fourth quarter. DNB Asset Management AS now owns 8,771,876 shares of the company's stock valued at $35,351,000 after purchasing an additional 4,896,701 shares during the period. Ballentine Partners LLC purchased a new stake in shares of Borr Drilling during the fourth quarter valued at approximately $57,000. Finally, Jennison Associates LLC purchased a new stake in shares of Borr Drilling during the fourth quarter valued at approximately $856,000. Hedge funds and other institutional investors own 83.12% of the company's stock.

Borr Drilling News Roundup

Here are the key news stories impacting Borr Drilling this week:

• Negative Sentiment: Borr Drilling reported Q1 EPS of -$0.09, missing analyst expectations of -$0.02, while revenue came in at $247.0 million, below the $253.35 million consensus. The quarter also showed a wider net loss of $29.0 million and lower adjusted EBITDA, which likely drove the stock lower. Article: Borr Drilling Limited Announces First Quarter 2026 Results
• Neutral Sentiment: The company said it completed the acquisition of five premium jack-up rigs from Noble and agreed to buy five more through a joint venture, expanding its fleet and long-term operating base. Article: Borr Drilling Limited Announces First Quarter 2026 Results
• Neutral Sentiment: Management highlighted that year-to-date 2026 it has secured 13 contract commitments worth more than 2,250 days and $274 million of dayrate-equivalent backlog, which supports future revenue visibility. Article: Borr Drilling Limited Announces First Quarter 2026 Results
• Neutral Sentiment: There was also unusual options activity, with call volume surging above average, suggesting some traders are positioning for a rebound or higher volatility around the earnings release. Article: BORR stock sinks post Q1, but the CEO sees a silver lining with the Middle East conflict
• Positive Sentiment: The CEO pointed to the Middle East conflict as a potential tailwind for offshore drilling demand, since geopolitical tensions can support higher rig utilization and pricing. Article: BORR stock sinks post Q1, but the CEO sees a silver lining with the Middle East conflict

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective 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. Wall Street Zen lowered shares of Borr Drilling from a "hold" rating to a "sell" rating in a research note on Saturday, April 18th. Weiss Ratings lowered shares of Borr Drilling from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, March 27th. Finally, Fearnley Fonds upgraded shares of Borr Drilling from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Borr Drilling presently has an average rating of "Hold" and an average price target of $4.33.

Borr Drilling Stock Down 0.2%

Borr Drilling stock opened at $5.51 on Monday. The company has a 50-day simple moving average of $5.71 and a 200-day simple moving average of $4.85. The firm has a market capitalization of $1.74 billion, a P/E ratio of 36.73 and a beta of 1.04. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.19. Borr Drilling Limited has a one year low of $1.57 and a one year high of $6.66.

Borr Drilling (NYSE:BORR - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $247.00 million for the quarter, compared to the consensus estimate of $253.35 million. Borr Drilling had a return on equity of 2.92% and a net margin of 3.13%.

Borr Drilling 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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