FIL Ltd Increases Stock Position in Borr Drilling Limited (NYSE:BORR)

FIL Ltd grew its holdings in shares of Borr Drilling Limited (NYSE:BORR) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,593,801 shares of the company’s stock after buying an additional 267,791 shares during the period. FIL Ltd’s holdings in Borr Drilling were worth $45,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of BORR. SBI Securities Co. Ltd. acquired a new position in shares of Borr Drilling during the 4th quarter worth $59,000. Salvus Wealth Management LLC purchased a new position in Borr Drilling in the 4th quarter valued at approximately $59,000. Ballentine Partners LLC acquired a new position in Borr Drilling during the fourth quarter worth $83,000. Westend Capital Management LLC purchased a new stake in Borr Drilling during the fourth quarter worth $86,000. Finally, Cibc World Markets Corp acquired a new stake in Borr Drilling in the 4th quarter valued at about $87,000. 83.12% of the stock is owned by hedge funds and other institutional investors.

Borr Drilling Stock Down 11.1 %

Shares of NYSE BORR opened at $1.96 on Friday. Borr Drilling Limited has a 12-month low of $1.62 and a 12-month high of $7.26. The company has a market capitalization of $478.83 million, a PE ratio of 6.11 and a beta of 2.22. The firm’s 50-day moving average is $2.54 and its two-hundred day moving average is $3.59. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%. The business had revenue of $263.10 million during the quarter, compared to analyst estimates of $247.78 million.

Borr Drilling Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.08 dividend on an annualized basis and a yield of 4.09%. Borr Drilling’s dividend payout ratio (DPR) is 31.25%.

Borr Drilling Profile

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.