LSV Asset Management Acquires New Position in Borr Drilling Limited (NYSE:BORR)

LSV Asset Management bought a new position in shares of Borr Drilling Limited (NYSE:BORR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 32,700 shares of the company’s stock, valued at approximately $128,000.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its stake in Borr Drilling by 52.9% during the third quarter. Barclays PLC now owns 718,537 shares of the company’s stock worth $3,944,000 after acquiring an additional 248,482 shares during the period. Tejara Capital Ltd raised its position in shares of Borr Drilling by 46.8% during the 4th quarter. Tejara Capital Ltd now owns 2,201,589 shares of the company’s stock worth $8,418,000 after purchasing an additional 701,478 shares during the period. Rovida Investment Management Ltd acquired a new stake in shares of Borr Drilling during the 4th quarter worth approximately $5,070,000. HighTower Advisors LLC bought a new stake in shares of Borr Drilling in the 4th quarter worth approximately $920,000. Finally, FIL Ltd boosted its position in Borr Drilling by 2.4% during the 4th quarter. FIL Ltd now owns 11,593,801 shares of the company’s stock valued at $45,216,000 after purchasing an additional 267,791 shares during the period. Institutional investors and hedge funds own 83.12% of the company’s stock.

Borr Drilling Price Performance

Shares of BORR opened at $1.89 on Wednesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market cap of $461.69 million, a P/E ratio of 5.89 and a beta of 2.22. Borr Drilling Limited has a 12 month low of $1.62 and a 12 month high of $7.26. The stock has a fifty day moving average price of $2.45 and a 200 day moving average price of $3.52.

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

Borr Drilling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders 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 annualized dividend and a dividend yield of 4.24%. Borr Drilling’s dividend payout ratio is presently 31.25%.

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.