3,554,800 Shares in Borr Drilling Limited $BORR Purchased by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC acquired a new position in shares of Borr Drilling Limited (NYSE:BORR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,554,800 shares of the company’s stock, valued at approximately $14,326,000. Encompass Capital Advisors LLC owned approximately 1.13% of Borr Drilling at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BORR. Sona Asset Management US LLC bought a new stake in Borr Drilling during the third quarter worth about $17,180,000. DNB Asset Management AS boosted its stake in Borr Drilling by 126.4% during the fourth quarter. DNB Asset Management AS now owns 8,771,876 shares of the company’s stock worth $35,351,000 after acquiring an additional 4,896,701 shares in the last quarter. Marshall Wace LLP boosted its stake in Borr Drilling by 9,222.0% during the fourth quarter. Marshall Wace LLP now owns 4,573,837 shares of the company’s stock worth $18,433,000 after acquiring an additional 4,524,772 shares in the last quarter. Millennium Management LLC boosted its stake in Borr Drilling by 1,025.5% during the first quarter. Millennium Management LLC now owns 3,810,556 shares of the company’s stock worth $8,345,000 after acquiring an additional 3,471,979 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in Borr Drilling during the fourth quarter worth about $9,806,000. Institutional investors own 83.12% of the company’s stock.

Borr Drilling Stock Down 1.0%

Shares of Borr Drilling stock opened at $4.28 on Thursday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $1.35 billion, a PE ratio of 28.50 and a beta of 0.96. Borr Drilling Limited has a 52-week low of $1.79 and a 52-week high of $6.66. The company has a 50-day simple moving average of $5.52 and a two-hundred day simple moving average of $5.07.

Borr Drilling (NYSE:BORR) last issued its earnings results on Wednesday, May 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $247.00 million during 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BORR shares. Wall Street Zen lowered shares of Borr Drilling from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Citigroup boosted their price objective on shares of Borr Drilling from $6.00 to $6.25 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Fearnley Fonds raised shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Finally, 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. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.33.

Insider Transactions at Borr Drilling

In other Borr Drilling news, Director Thiago Mordehachvili sold 8,000,000 shares of Borr Drilling stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $4.70, for a total value of $37,600,000.00. Following the completion of the transaction, the director directly owned 38,199,677 shares of the company’s stock, valued at approximately $179,538,481.90. The trade was a 17.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.90% of the company’s stock.

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.