BTG Pactual Asset Management US LLC Invests $1.54 Million in Borr Drilling Limited $BORR

BTG Pactual Asset Management US LLC purchased a new stake in Borr Drilling Limited (NYSE:BORR) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 371,870 shares of the company’s stock, valued at approximately $1,536,000. BTG Pactual Asset Management US LLC owned approximately 0.12% of Borr Drilling at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System lifted its position in shares of Borr Drilling by 18.2% in the fourth quarter. California State Teachers Retirement System now owns 16,390 shares of the company’s stock valued at $66,000 after acquiring an additional 2,529 shares in the last quarter. Abel Hall LLC increased its position in shares of Borr Drilling by 11.3% during the first quarter. Abel Hall LLC now owns 25,262 shares of the company’s stock worth $146,000 after purchasing an additional 2,566 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Borr Drilling by 7.8% during the first quarter. SG Americas Securities LLC now owns 40,732 shares of the company’s stock worth $235,000 after purchasing an additional 2,963 shares in the last quarter. Mariner LLC increased its position in shares of Borr Drilling by 13.1% during the fourth quarter. Mariner LLC now owns 26,623 shares of the company’s stock worth $107,000 after purchasing an additional 3,094 shares in the last quarter. Finally, Optiver Holding B.V. raised its stake in Borr Drilling by 186.4% in the 1st quarter. Optiver Holding B.V. now owns 5,060 shares of the company’s stock valued at $29,000 after purchasing an additional 3,293 shares during the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Borr Drilling Trading Up 0.4%

Shares of BORR stock opened at $4.47 on Monday. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 2.58. Borr Drilling Limited has a twelve month low of $2.44 and a twelve month high of $6.66. The company’s 50-day moving average price is $4.26 and its 200-day moving average price is $5.08. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -5.73 and a beta of 1.02.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.58). Borr Drilling had a negative return on equity of 5.95% and a negative net margin of 23.98%.The business had revenue of $232.30 million during the quarter, compared to analysts’ expectations of $245.96 million. As a group, equities analysts predict that Borr Drilling Limited will post -0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BORR. Wall Street Zen cut shares of Borr Drilling from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Zacks Research upgraded shares of Borr Drilling to a “hold” rating in a research report on Thursday, July 2nd. Capital One Financial set a $6.00 price objective on shares of Borr Drilling and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Weiss Ratings downgraded shares of Borr Drilling from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 12th. Finally, SEB Equity Research set a $3.55 target price on shares of Borr Drilling in a research note on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.27.

Insider Activity

In related news, Director Thiago Mordehachvili sold 8,000,000 shares of Borr Drilling stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $4.70, for a total value of $37,600,000.00. Following the completion of the sale, the director owned 38,199,677 shares in the company, valued at approximately $179,538,481.90. This trade represents a 17.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Currie bought 125,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average price of $4.01 per share, with a total value of $501,250.00. Following the acquisition, the director directly owned 479,423 shares in the company, valued at $1,922,486.23. The trade was a 35.27% increase in their position. The SEC filing for this purchase provides additional information. 7.90% of the stock is currently owned by insiders.

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.