Tudor Investment Corp ET AL Has $1.77 Million Position in Borr Drilling Limited $BORR

Key Points

• Tudor Investment Corp boosted its stake in Borr Drilling by 77.7% in Q3 to 657,411 shares (about $1.77M), and institutional investors now own roughly 83.12% of the stock.
• Analysts show mixed views but a consensus of "Reduce" with a $4.33 target price, despite individual notes ranging from Citigroup's $6.25 (neutral) to Weiss Ratings' sell and Wall Street Zen's upgrade to hold.
• Earnings beat: Borr reported $0.00 EPS vs. -$0.03 expected and revenue of $259.4M (vs. $238.7M est.), and the stock trades near $5.90 with a $1.86B market cap and a 12‑month range of $1.55–$6.25.

Tudor Investment Corp ET AL grew its holdings in Borr Drilling Limited (NYSE:BORR - Free Report) by 77.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 657,411 shares of the company's stock after purchasing an additional 287,428 shares during the quarter. Tudor Investment Corp ET AL owned about 0.21% of Borr Drilling worth $1,768,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new stake in shares of Borr Drilling in the third quarter valued at about $82,000. Hudson Bay Capital Management LP acquired a new stake in shares of Borr Drilling in the third quarter valued at about $70,000. CIBC Bancorp USA Inc. bought a new stake in shares of Borr Drilling in the third quarter valued at about $71,000. Abel Hall LLC bought a new stake in shares of Borr Drilling in the third quarter valued at about $43,000. Finally, Verition Fund Management LLC lifted its stake in shares of Borr Drilling by 306.4% in the third quarter. Verition Fund Management LLC now owns 321,074 shares of the company's stock valued at $864,000 after buying an additional 242,065 shares during the period. 83.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup increased 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 shares of Borr Drilling from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Borr Drilling from a "sell" rating to a "hold" rating in a research note on Sunday, April 5th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $4.33.

Borr Drilling Stock Down 0.1%

NYSE BORR opened at $5.90 on Monday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.19. The firm has a 50-day simple moving average of $5.57 and a 200 day simple moving average of $4.25. Borr Drilling Limited has a twelve month low of $1.55 and a twelve month high of $6.25. The stock has a market cap of $1.86 billion, a PE ratio of 34.68 and a beta of 1.10.

Borr Drilling (NYSE:BORR - Get Free Report) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.00 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.03. The firm had revenue of $259.40 million during the quarter, compared to analysts' expectations of $238.65 million. Borr Drilling had a net margin of 4.41% and a return on equity of 4.14%.

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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