Borr Drilling Limited (NYSE:BORR – Get Free Report) traded up 4.3% during mid-day trading on Friday . The company traded as high as $6.76 and last traded at $6.74. 691,002 shares traded hands during trading, a decline of 66% from the average session volume of 2,059,975 shares. The stock had previously closed at $6.46.
Wall Street Analyst Weigh In
Separately, Evercore ISI decreased their price objective on shares of Borr Drilling from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Friday, February 23rd.
Read Our Latest Analysis on Borr Drilling
Borr Drilling Price Performance
Borr Drilling (NYSE:BORR – Get Free Report) last posted its quarterly earnings data on Thursday, May 23rd. The company reported $0.06 earnings per share (EPS) for the quarter. Borr Drilling had a net margin of 2.86% and a return on equity of 2.38%. The business had revenue of $234.00 million during the quarter.
Hedge Funds Weigh In On Borr Drilling
Several large investors have recently modified their holdings of the business. Quadrant Capital Group LLC increased its stake in shares of Borr Drilling by 111.6% in the fourth quarter. Quadrant Capital Group LLC now owns 4,472 shares of the company’s stock worth $33,000 after purchasing an additional 2,359 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Borr Drilling by 8.5% in the first quarter. ProShare Advisors LLC now owns 39,513 shares of the company’s stock worth $271,000 after purchasing an additional 3,110 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Borr Drilling by 32.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 14,415 shares of the company’s stock worth $102,000 after purchasing an additional 3,519 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of Borr Drilling by 4.5% in the first quarter. Bleakley Financial Group LLC now owns 90,901 shares of the company’s stock worth $623,000 after purchasing an additional 3,874 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Borr Drilling by 1.4% in the third quarter. Rhumbline Advisers now owns 294,178 shares of the company’s stock worth $2,089,000 after purchasing an additional 3,987 shares in the last quarter. Hedge funds and other institutional investors own 83.12% of the company’s stock.
About Borr Drilling
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.
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