Nuveen Asset Management LLC Cuts Stock Holdings in Borr Drilling Limited (NYSE:BORR)

Nuveen Asset Management LLC reduced its stake in Borr Drilling Limited (NYSE:BORR) by 22.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 620,816 shares of the company’s stock after selling 177,432 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.25% of Borr Drilling worth $2,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital International Investors grew its stake in shares of Borr Drilling by 0.5% in the 4th quarter. Capital International Investors now owns 18,780,294 shares of the company’s stock worth $73,243,000 after acquiring an additional 88,412 shares in the last quarter. FIL Ltd boosted its stake in shares of Borr Drilling by 2.4% in the 4th quarter. FIL Ltd now owns 11,593,801 shares of the company’s stock worth $45,216,000 after buying an additional 267,791 shares during the last quarter. Capital International Inc. CA grew its holdings in shares of Borr Drilling by 1.2% in the fourth quarter. Capital International Inc. CA now owns 3,321,788 shares of the company’s stock valued at $12,955,000 after acquiring an additional 40,885 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in shares of Borr Drilling in the fourth quarter valued at approximately $10,718,000. Finally, Tejara Capital Ltd increased its position in shares of Borr Drilling by 46.8% during the fourth quarter. Tejara Capital Ltd now owns 2,201,589 shares of the company’s stock valued at $8,418,000 after acquiring an additional 701,478 shares during the last quarter. 83.12% of the stock is owned by hedge funds and other institutional investors.

Borr Drilling Stock Performance

Shares of Borr Drilling stock opened at $1.78 on Tuesday. The business’s fifty day simple moving average is $1.86 and its 200 day simple moving average is $2.80. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. Borr Drilling Limited has a 12 month low of $1.55 and a 12 month high of $7.09. The firm has a market capitalization of $424.77 million, a P/E ratio of 5.55 and a beta of 1.77.

Borr Drilling (NYSE:BORR) last announced its earnings results on Wednesday, May 21st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The business had revenue of $217.50 million for the quarter, compared to analysts’ expectations of $231.17 million. Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%.

Borr Drilling Profile

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.