Sei Investments Co. Purchases 207,481 Shares of Borr Drilling Limited $BORR

Sei Investments Co. grew its position in Borr Drilling Limited (NYSE:BORR) by 300.9% in the first quarter, HoldingsChannel.com reports. The fund owned 276,445 shares of the company’s stock after buying an additional 207,481 shares during the quarter. Sei Investments Co.’s holdings in Borr Drilling were worth $1,595,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cetera Investment Advisers acquired a new stake in Borr Drilling during the 1st quarter valued at $66,000. Dimensional Fund Advisors LP raised its position in Borr Drilling by 167.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,491,730 shares of the company’s stock valued at $20,148,000 after purchasing an additional 2,185,639 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Borr Drilling by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 709,097 shares of the company’s stock worth $4,091,000 after purchasing an additional 33,323 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its stake in Borr Drilling by 30.6% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,119,465 shares of the company’s stock worth $12,229,000 after purchasing an additional 496,302 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Borr Drilling during the first quarter worth $242,000. 83.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Borr Drilling news, Director Thiago Mordehachvili sold 8,000,000 shares of Borr Drilling stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $4.70, for a total transaction of $37,600,000.00. Following the completion of the sale, the director owned 38,199,677 shares of the company’s stock, valued at approximately $179,538,481.90. The trade was a 17.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.90% of the company’s stock.

Borr Drilling Stock Performance

Borr Drilling stock opened at $4.17 on Tuesday. The company has a market cap of $1.32 billion, a PE ratio of 27.80 and a beta of 1.02. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.82. Borr Drilling Limited has a 1 year low of $2.14 and a 1 year high of $6.66. The company’s 50-day moving average is $4.33 and its two-hundred day moving average is $5.12.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings results on Wednesday, May 20th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Borr Drilling had a return on equity of 2.88% and a net margin of 3.13%.The business had revenue of $247.00 million for the quarter, compared to analyst estimates of $253.35 million. Equities analysts anticipate that Borr Drilling Limited will post -0.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BORR. Weiss Ratings restated a “sell (d+)” rating on shares of Borr Drilling in a research note on Wednesday, June 24th. Fearnley Fonds raised shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Borr Drilling from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Research upgraded shares of Borr Drilling to a “hold” rating in a research report on Thursday, July 2nd. Finally, Capital One Financial set a $6.00 target price on shares of Borr Drilling and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.88.

Borr Drilling Profile

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.