Cubist Systematic Strategies LLC Acquires New Position in Borr Drilling Limited (NYSE:BORR)

Cubist Systematic Strategies LLC acquired a new stake in Borr Drilling Limited (NYSE:BORR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 302,899 shares of the company’s stock, valued at approximately $1,954,000. Cubist Systematic Strategies LLC owned about 0.20% of Borr Drilling as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BORR. Capital International Investors increased its holdings in Borr Drilling by 38.3% in the fourth quarter. Capital International Investors now owns 13,007,254 shares of the company’s stock valued at $96,318,000 after buying an additional 3,604,908 shares during the last quarter. Capital International Sarl bought a new stake in Borr Drilling in the fourth quarter valued at about $2,555,000. Goehring & Rozencwajg Associates LLC increased its holdings in Borr Drilling by 3.5% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 819,185 shares of the company’s stock valued at $6,029,000 after buying an additional 27,880 shares during the last quarter. GeoSphere Capital Management LLC bought a new position in shares of Borr Drilling during the fourth quarter valued at approximately $5,152,000. Finally, Virtu Financial LLC bought a new position in shares of Borr Drilling during the fourth quarter valued at approximately $202,000. 83.12% of the stock is owned by institutional investors.

Borr Drilling Stock Down 2.4 %

NYSE:BORR opened at $5.49 on Tuesday. The firm has a market capitalization of $836.46 million, a PE ratio of 32.26 and a beta of 3.00. The stock has a 50 day moving average of $5.99 and a 200-day moving average of $6.14. Borr Drilling Limited has a 52 week low of $5.09 and a 52 week 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 posted its earnings results on Wednesday, August 14th. The company reported $0.12 EPS for the quarter. The company 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.40 annualized dividend and a dividend yield of 7.29%. Borr Drilling’s dividend payout ratio is presently 58.82%.

Analyst Upgrades and Downgrades

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

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.