Callan Family Office LLC Takes Position in Borr Drilling Limited $BORR

Callan Family Office LLC bought a new stake in shares of Borr Drilling Limited (NYSE:BORR) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 18,918 shares of the company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Millennium Management LLC boosted its stake in shares of Borr Drilling by 1,025.5% during the 1st quarter. Millennium Management LLC now owns 3,810,556 shares of the company’s stock valued at $8,345,000 after buying an additional 3,471,979 shares during the last quarter. Tejara Capital Ltd boosted its stake in shares of Borr Drilling by 4.2% during the 1st quarter. Tejara Capital Ltd now owns 2,293,558 shares of the company’s stock valued at $5,023,000 after buying an additional 91,969 shares during the last quarter. De Lisle Partners LLP boosted its stake in shares of Borr Drilling by 1.7% during the 1st quarter. De Lisle Partners LLP now owns 1,801,424 shares of the company’s stock valued at $3,954,000 after buying an additional 30,000 shares during the last quarter. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Borr Drilling by 2.2% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,056,112 shares of the company’s stock valued at $2,556,000 after buying an additional 22,795 shares during the last quarter. Finally, Jump Financial LLC raised its position in shares of Borr Drilling by 256.7% during the 1st quarter. Jump Financial LLC now owns 663,000 shares of the company’s stock valued at $1,452,000 after acquiring an additional 477,119 shares in the last quarter. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. SEB Equity Research set a $2.40 price target on Borr Drilling in a research report on Monday, September 1st. BTIG Research lowered Borr Drilling from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. Citigroup assumed coverage on Borr Drilling in a research report on Thursday, September 11th. They set a “neutral” rating and a $3.25 price target on the stock. Fearnley Fonds lowered Borr Drilling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen raised Borr Drilling from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Borr Drilling has an average rating of “Hold” and an average price target of $2.83.

Borr Drilling Price Performance

Shares of BORR opened at $2.58 on Friday. The firm has a market capitalization of $608.29 million, a price-to-earnings ratio of 12.26 and a beta of 1.83. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.28 and a current ratio of 1.28. Borr Drilling Limited has a one year low of $1.55 and a one year high of $5.24. The stock’s fifty day moving average is $2.79 and its 200-day moving average is $2.23.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $267.70 million for the quarter, compared to analyst estimates of $265.81 million. Borr Drilling had a return on equity of 5.46% and a net margin of 5.48%.

About Borr Drilling

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.