Pictet Asset Management SA Buys Shares of 71,472 Borr Drilling Limited (NYSE:BORR)

Pictet Asset Management SA bought a new stake in shares of Borr Drilling Limited (NYSE:BORRGet Rating) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 71,472 shares of the company’s stock, valued at approximately $318,000.

A number of other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new stake in shares of Borr Drilling in the second quarter valued at approximately $26,000. JPMorgan Chase & Co. purchased a new stake in shares of Borr Drilling in the first quarter valued at approximately $66,000. ProShare Advisors LLC purchased a new stake in shares of Borr Drilling in the second quarter valued at approximately $70,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Borr Drilling in the second quarter valued at approximately $120,000. Finally, Strs Ohio purchased a new stake in shares of Borr Drilling in the second quarter valued at approximately $144,000.

Wall Street Analysts Forecast Growth

BORR has been the subject of several analyst reports. Clarkson Capital upgraded Borr Drilling from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 20th. DNB Markets initiated coverage on Borr Drilling in a research report on Monday, September 12th. They issued a “buy” rating for the company.

Borr Drilling Trading Down 3.1 %

Shares of Borr Drilling stock opened at $4.74 on Thursday. Borr Drilling Limited has a fifty-two week low of $1.45 and a fifty-two week high of $6.96. The stock has a 50 day moving average of $4.20 and a 200 day moving average of $4.38. The firm has a market capitalization of $722.83 million, a price-to-earnings ratio of -2.28 and a beta of 3.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.32 and a current ratio of 0.32.

About Borr Drilling

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Borr Drilling Limited operates as an offshore drilling contractor to the oil and gas industry worldwide. It owns, contracts, and operates jack-up 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.

See Also

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Institutional Ownership by Quarter for Borr Drilling (NYSE:BORR)

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