Bank of America Corp DE Boosts Stake in Borr Drilling Limited (NYSE:BORR)

Bank of America Corp DE boosted its holdings in Borr Drilling Limited (NYSE:BORR) by 169.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 486,808 shares of the company’s stock after buying an additional 305,935 shares during the period. Bank of America Corp DE owned 0.19% of Borr Drilling worth $1,899,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Sterling Capital Management LLC increased its stake in Borr Drilling by 828.2% in the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company’s stock worth $30,000 after buying an additional 6,775 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Borr Drilling in the 4th quarter worth $59,000. Natixis purchased a new stake in Borr Drilling in the 4th quarter worth $58,000. CacheTech Inc. purchased a new stake in Borr Drilling in the 4th quarter worth $81,000. Finally, Cibc World Markets Corp purchased a new stake in Borr Drilling in the 4th quarter worth $87,000. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Borr Drilling Trading Up 7.0%

Shares of BORR stock opened at $1.91 on Wednesday. Borr Drilling Limited has a 52-week low of $1.55 and a 52-week high of $7.09. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $455.88 million, a PE ratio of 5.95 and a beta of 1.77. The stock has a fifty day simple moving average of $1.85 and a two-hundred day simple moving average of $2.80.

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

Borr Drilling Company 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.