Dimensional Fund Advisors LP Has $20.15 Million Position in Borr Drilling Limited $BORR

Dimensional Fund Advisors LP boosted its holdings in Borr Drilling Limited (NYSE:BORR) by 167.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,491,730 shares of the company’s stock after acquiring an additional 2,185,639 shares during the period. Dimensional Fund Advisors LP owned 1.11% of Borr Drilling worth $20,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Borr Drilling by 2,435.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock valued at $34,000 after purchasing an additional 8,133 shares during the last quarter. Inspire Advisors LLC acquired a new stake in shares of Borr Drilling during the 4th quarter worth about $44,000. Quadrature Capital Ltd acquired a new stake in shares of Borr Drilling during the 4th quarter worth about $47,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Borr Drilling during the 4th quarter worth about $49,000. Finally, Ballentine Partners LLC bought a new stake in shares of Borr Drilling during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 83.12% of the company’s stock.

Borr Drilling Trading Down 0.1%

Shares of Borr Drilling stock opened at $3.88 on Friday. The firm has a 50-day moving average of $4.37 and a 200-day moving average of $5.12. The stock has a market cap of $1.23 billion, a PE ratio of 25.90 and a beta of 1.02. Borr Drilling Limited has a 52-week low of $2.14 and a 52-week high of $6.66. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.63 and a current ratio of 1.63.

Borr Drilling (NYSE:BORR) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $253.35 million. As a group, sell-side analysts forecast that Borr Drilling Limited will post -0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Capital One Financial set a $6.00 price target on shares of Borr Drilling and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded shares of Borr Drilling from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Borr Drilling in a report on Wednesday, June 24th. Fearnley Fonds raised Borr Drilling from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded Borr Drilling to a “hold” rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Borr Drilling has a consensus rating of “Moderate Buy” and an average price target of $4.88.

Insider Activity

In other Borr Drilling news, Director Thiago Mordehachvili sold 8,000,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 38,199,677 shares in the company, valued at $179,538,481.90. This represents a 17.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.90% of the stock is currently owned by insiders.

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.