Point72 DIFC Ltd Invests $30,000 in Borr Drilling Limited (NYSE:BORR)

Point72 DIFC Ltd bought a new stake in Borr Drilling Limited (NYSE:BORR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,599 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance Inc. lifted its stake in shares of Borr Drilling by 13.3% in the 2nd quarter. Xponance Inc. now owns 15,058 shares of the company’s stock valued at $97,000 after purchasing an additional 1,767 shares during the period. ProShare Advisors LLC lifted its stake in shares of Borr Drilling by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 39,513 shares of the company’s stock valued at $271,000 after purchasing an additional 3,110 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Borr Drilling by 4.5% in the 1st quarter. Bleakley Financial Group LLC now owns 90,901 shares of the company’s stock valued at $623,000 after purchasing an additional 3,874 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Borr Drilling by 16.2% in the 1st quarter. Principal Financial Group Inc. now owns 29,567 shares of the company’s stock valued at $203,000 after purchasing an additional 4,125 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Borr Drilling by 6.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,363 shares of the company’s stock valued at $454,000 after purchasing an additional 4,520 shares during the period. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Evercore ISI upgraded Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 target price for the company in a research note on Friday, September 13th.

Borr Drilling Stock Up 5.2 %

Shares of NYSE:BORR opened at $5.62 on Monday. The stock has a fifty day simple moving average of $6.01 and a two-hundred day simple moving average of $6.15. The stock has a market capitalization of $857.05 million, a price-to-earnings ratio of 33.06 and a beta of 3.00. Borr Drilling Limited has a 12-month low of $5.09 and a 12-month high of $7.61. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.75.

Borr Drilling (NYSE:BORR) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $271.90 million during the quarter. Borr Drilling had a return on equity of 7.69% and a net margin of 8.15%.

Borr Drilling Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date was Thursday, August 22nd. Borr Drilling’s payout ratio is 58.82%.

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.