2,090,315 Shares in Borr Drilling Limited $BORR Purchased by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Borr Drilling Limited (NYSE:BORR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,090,315 shares of the company’s stock, valued at approximately $12,061,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned 0.66% of Borr Drilling as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its position in shares of Borr Drilling by 18.2% during the 4th quarter. California State Teachers Retirement System now owns 16,390 shares of the company’s stock worth $66,000 after buying an additional 2,529 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Borr Drilling by 9.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,278 shares of the company’s stock valued at $121,000 after acquiring an additional 2,560 shares during the period. SG Americas Securities LLC raised its stake in 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 acquiring an additional 2,963 shares in the last quarter. Mariner LLC raised its stake in 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 acquiring an additional 3,094 shares in the last quarter. Finally, Salvus Wealth Management LLC lifted its holdings in shares of Borr Drilling by 13.6% during the fourth quarter. Salvus Wealth Management LLC now owns 30,935 shares of the company’s stock valued at $125,000 after acquiring an additional 3,715 shares during the period. 83.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BORR shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Borr Drilling in a report on Wednesday, June 24th. Capital One Financial set a $6.00 price target on shares of Borr Drilling and gave the company an “overweight” rating in a report on Wednesday. Wall Street Zen lowered shares of Borr Drilling from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Finally, Fearnley Fonds raised shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Borr Drilling has a consensus rating of “Moderate Buy” and a consensus target price of $4.88.

Borr Drilling Trading Up 4.1%

Shares of BORR opened at $4.49 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 29.90 and a beta of 1.00. The stock has a fifty day moving average price of $5.21 and a two-hundred day moving average price of $5.10. Borr Drilling Limited has a 52-week low of $1.85 and a 52-week high of $6.66.

Borr Drilling (NYSE:BORR) last announced its earnings results on Wednesday, May 20th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Borr Drilling had a net margin of 3.13% and a return on equity of 2.88%. The business had revenue of $247.00 million during the quarter, compared to analyst estimates of $253.35 million.

Insider Buying and Selling

In other Borr Drilling news, Director Thiago Mordehachvili sold 8,000,000 shares of the stock in a transaction dated 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 sale, the director owned 38,199,677 shares of the company’s stock, valued at $179,538,481.90. This represents a 17.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.90% of the stock is currently owned by corporate 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.