Borr Drilling Limited $BORR Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of Borr Drilling Limited (NYSE:BORR) by 169.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,012 shares of the company’s stock after buying an additional 48,474 shares during the quarter. Hsbc Holdings PLC’s holdings in Borr Drilling were worth $170,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Summit Trail Advisors LLC acquired a new stake in shares of Borr Drilling during the first quarter worth approximately $25,000. Oak Thistle LLC acquired a new stake in shares of Borr Drilling during the first quarter worth approximately $26,000. Abel Hall LLC acquired a new stake in shares of Borr Drilling during the first quarter worth approximately $29,000. Aigen Investment Management LP acquired a new stake in shares of Borr Drilling during the first quarter worth approximately $33,000. Finally, Monaco Asset Management SAM acquired a new stake in shares of Borr Drilling during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 83.12% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BORR. Fearnley Fonds downgraded shares of Borr Drilling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. BTIG Research downgraded shares of Borr Drilling from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Finally, SEB Equity Research set a $2.40 price objective on shares of Borr Drilling in a report on Monday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.70.

Borr Drilling Stock Performance

Borr Drilling stock opened at $3.05 on Friday. The company has a market cap of $719.32 million, a PE ratio of 14.50 and a beta of 1.99. The company has a fifty day moving average price of $2.30 and a two-hundred day moving average price of $2.15. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.28 and a quick ratio of 1.28. Borr Drilling Limited has a 12 month low of $1.55 and a 12 month high of $5.82.

Borr Drilling (NYSE:BORR) last released its quarterly earnings data on Wednesday, August 13th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Borr Drilling had a net margin of 5.48% and a return on equity of 5.46%. The firm had revenue of $267.70 million during the quarter, compared to the consensus estimate of $265.81 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.