UBS Group AG Has $9.42 Million Stock Holdings in Borr Drilling Limited $BORR

UBS Group AG trimmed its position in Borr Drilling Limited (NYSE:BORR) by 5.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,336,705 shares of the company’s stock after selling 135,545 shares during the period. UBS Group AG’s holdings in Borr Drilling were worth $9,417,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Borr Drilling by 9.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,278 shares of the company’s stock worth $121,000 after buying an additional 2,560 shares during the period. Salvus Wealth Management LLC raised its holdings in Borr Drilling by 13.6% during the 4th quarter. Salvus Wealth Management LLC now owns 30,935 shares of the company’s stock worth $125,000 after buying an additional 3,715 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Borr Drilling by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,927 shares of the company’s stock worth $309,000 after buying an additional 6,012 shares during the period. BNP Paribas Financial Markets raised its holdings in Borr Drilling by 36.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,908 shares of the company’s stock worth $57,000 after buying an additional 8,233 shares during the period. Finally, Goehring & Rozencwajg Associates LLC raised its holdings in Borr Drilling by 0.8% during the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 1,042,699 shares of the company’s stock worth $2,805,000 after buying an additional 8,738 shares during the period. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup raised their target price on shares of Borr Drilling from $6.00 to $6.25 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Wall Street Zen downgraded shares of Borr Drilling from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Fearnley Fonds upgraded shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Borr Drilling has a consensus rating of “Hold” and a consensus price target of $4.33.

Borr Drilling Price Performance

Shares of BORR opened at $6.25 on Friday. The stock has a market capitalization of $1.97 billion, a P/E ratio of 36.74 and a beta of 1.04. Borr Drilling Limited has a twelve month low of $1.55 and a twelve month high of $6.38. The company has a 50 day moving average of $5.67 and a 200-day moving average of $4.74. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 1.65.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.03. The company 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 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.