Goehring & Rozencwajg Associates LLC Acquires 580,464 Shares of Borr Drilling Limited $BORR

Goehring & Rozencwajg Associates LLC grew its holdings in Borr Drilling Limited (NYSE:BORR) by 55.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,623,163 shares of the company’s stock after acquiring an additional 580,464 shares during the quarter. Goehring & Rozencwajg Associates LLC owned 0.51% of Borr Drilling worth $6,541,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Glenorchy Capital Ltd bought a new stake in shares of Borr Drilling in the fourth quarter valued at about $2,484,000. Jennison Associates LLC bought a new stake in shares of Borr Drilling in the fourth quarter valued at about $856,000. Tudor Investment Corp ET AL boosted its position in shares of Borr Drilling by 77.7% in the third quarter. Tudor Investment Corp ET AL now owns 657,411 shares of the company’s stock valued at $1,768,000 after acquiring an additional 287,428 shares during the period. DNB Asset Management AS boosted its position in shares of Borr Drilling by 22,394.8% in the third quarter. DNB Asset Management AS now owns 3,875,175 shares of the company’s stock valued at $10,424,000 after acquiring an additional 3,857,948 shares during the period. Finally, TT International Asset Management LTD bought a new stake in shares of Borr Drilling in the fourth quarter valued at about $1,024,000. Institutional investors own 83.12% of the company’s stock.

Analyst Upgrades and Downgrades

BORR has been the subject of a number of recent research reports. Wall Street Zen cut shares of Borr Drilling from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Citigroup boosted their price target on Borr Drilling from $6.00 to $6.25 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Fearnley Fonds raised 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 report on Friday, March 27th. One research 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.33.

Borr Drilling Stock Performance

Shares of Borr Drilling stock opened at $4.57 on Friday. The company has a 50 day moving average of $5.61 and a 200-day moving average of $5.03. Borr Drilling Limited has a 1-year low of $1.79 and a 1-year high of $6.66. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.82. The company has a market cap of $1.44 billion, a PE ratio of 30.43 and a beta of 0.96.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings results on Wednesday, May 20th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Borr Drilling had a return on equity of 2.88% and a net margin of 3.13%.The firm had revenue of $247.00 million for the quarter, compared to the consensus estimate of $253.35 million.

Insider Activity at Borr Drilling

In other news, Director Thiago Mordehachvili sold 8,000,000 shares of the 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 owned 38,199,677 shares of the company’s stock, valued at approximately $179,538,481.90. This represents a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.90% of the company’s stock.

About Borr Drilling

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.