Capricorn Fund Managers Ltd Makes New $443,000 Investment in Borr Drilling Limited $BORR

Capricorn Fund Managers Ltd bought a new stake in Borr Drilling Limited (NYSE:BORR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 110,000 shares of the company’s stock, valued at approximately $443,000.

Several other institutional investors and hedge funds have also modified their holdings of BORR. Oak Thistle LLC bought a new stake in Borr Drilling during the 3rd quarter worth approximately $29,000. Baader Bank Aktiengesellschaft bought a new position in Borr Drilling in the 3rd quarter valued at $30,000. Jamison Private Wealth Management Inc. acquired a new position in Borr Drilling in the third quarter worth $31,000. Federated Hermes Inc. bought a new stake in shares of Borr Drilling during the third quarter worth $35,000. Finally, Interchange Capital Partners LLC bought a new stake in shares of Borr Drilling during the third quarter worth $36,000. 83.12% of the stock is owned by institutional investors and hedge funds.

Borr Drilling Trading Down 0.1%

Shares of BORR opened at $5.83 on Monday. The stock’s fifty day simple moving average is $5.43 and its 200-day simple moving average is $4.15. The firm has a market capitalization of $1.84 billion, a PE ratio of 34.26 and a beta of 1.10. Borr Drilling Limited has a 12-month low of $1.55 and a 12-month high of $6.25. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 1.65.

Borr Drilling (NYSE:BORR) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.00 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.03. The firm had revenue of $259.40 million during the quarter, compared to analyst estimates of $238.65 million. Borr Drilling had a return on equity of 4.14% and a net margin of 4.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wall Street Zen raised Borr Drilling from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings lowered shares of Borr Drilling from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Finally, Citigroup raised their price objective on shares of Borr Drilling from $6.00 to $6.25 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Borr Drilling has a consensus rating of “Reduce” and an average target price of $4.33.

About Borr Drilling

Borr Drilling is an international offshore drilling contractor providing premium jack-up drilling services to the oil and gas industry. Established in 2016 and incorporated in Bermuda with headquarters in Hamilton, the company is listed on the New York Stock Exchange under the ticker symbol BORR. Borr Drilling focuses exclusively on the ownership and operation of mobile offshore jack-up rigs, catering to exploration and production drilling projects in both mature and emerging hydrocarbon regions.

The company’s core business activities encompass the long-term contracting of high-specification jack-up rigs suitable for shallow-to-intermediate water depths.