Millennium Management LLC Makes New Investment in Borr Drilling Limited (NYSE:BORR)

Millennium Management LLC acquired a new position in Borr Drilling Limited (NYSE:BORR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 338,577 shares of the company’s stock, valued at approximately $1,320,000. Millennium Management LLC owned 0.13% of Borr Drilling as of its most recent filing with the Securities and Exchange Commission.

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

Borr Drilling Stock Up 7.0%

Shares of NYSE:BORR opened at $1.91 on Wednesday. The stock has a fifty day simple moving average of $1.85 and a two-hundred day simple moving average of $2.80. The stock has a market capitalization of $455.88 million, a price-to-earnings ratio of 5.95 and a beta of 1.77. Borr Drilling Limited has a 12-month low of $1.55 and a 12-month high of $7.09. 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 (NYSE:BORR) last announced its quarterly earnings data 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). The company 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 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.