Tejara Capital Ltd Trims Stock Holdings in Borr Drilling Limited $BORR

Tejara Capital Ltd reduced its holdings in shares of Borr Drilling Limited (NYSE:BORR) by 39.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 926,398 shares of the company’s stock after selling 591,863 shares during the period. Borr Drilling comprises 0.9% of Tejara Capital Ltd’s portfolio, making the stock its 22nd biggest position. Tejara Capital Ltd’s holdings in Borr Drilling were worth $3,733,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sona Asset Management US LLC bought a new position in Borr Drilling in the 3rd quarter valued at $17,180,000. DNB Asset Management AS lifted its position in shares of Borr Drilling by 22,394.8% during the third quarter. DNB Asset Management AS now owns 3,875,175 shares of the company’s stock worth $10,424,000 after purchasing an additional 3,857,948 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Borr Drilling by 1,025.5% during the first quarter. Millennium Management LLC now owns 3,810,556 shares of the company’s stock valued at $8,345,000 after purchasing an additional 3,471,979 shares during the period. Masters Capital Management LLC boosted its stake in shares of Borr Drilling by 42.9% during the third quarter. Masters Capital Management LLC now owns 3,000,000 shares of the company’s stock valued at $8,070,000 after purchasing an additional 900,000 shares during the period. Finally, Capital International Investors grew its holdings in shares of Borr Drilling by 1.7% in the third quarter. Capital International Investors now owns 2,939,830 shares of the company’s stock worth $7,908,000 after purchasing an additional 49,031 shares during the last quarter. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Borr Drilling from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Citigroup upped their target price 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 report on Tuesday, April 21st. Finally, Weiss Ratings downgraded 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.33.

Borr Drilling Price Performance

BORR opened at $6.30 on Friday. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 37.03 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. Borr Drilling Limited has a 12-month low of $1.55 and a 12-month high of $6.33. The business’s fifty day simple moving average is $5.66 and its 200-day simple moving average is $4.73.

Borr Drilling (NYSE:BORR) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.03. Borr Drilling had a return on equity of 4.14% and a net margin of 4.41%.The firm had revenue of $259.40 million during the quarter, compared to the consensus estimate of $238.65 million.

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.