Borr Drilling Limited (NYSE:BORR) Stake Lessened by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Borr Drilling Limited (NYSE:BORR) by 13.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,831 shares of the company’s stock after selling 22,531 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Borr Drilling were worth $768,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of BORR. Xponance Inc. boosted its position in Borr Drilling by 13.3% during the 2nd quarter. Xponance Inc. now owns 15,058 shares of the company’s stock worth $97,000 after acquiring an additional 1,767 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Borr Drilling by 6.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,363 shares of the company’s stock worth $454,000 after purchasing an additional 4,520 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Borr Drilling during the second quarter worth approximately $30,000. Signaturefd LLC grew its position in Borr Drilling by 666.6% during the second quarter. Signaturefd LLC now owns 7,865 shares of the company’s stock valued at $51,000 after purchasing an additional 6,839 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in Borr Drilling by 31.7% in the 3rd quarter. Private Advisor Group LLC now owns 33,443 shares of the company’s stock valued at $184,000 after buying an additional 8,054 shares during the period. 83.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Evercore ISI raised shares of 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 Performance

Shares of NYSE BORR opened at $3.66 on Friday. Borr Drilling Limited has a one year low of $3.29 and a one year high of $7.61. The business’s 50-day moving average price is $4.14 and its two-hundred day moving average price is $5.43. 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 capitalization of $558.15 million, a P/E ratio of 11.09 and a beta of 2.95.

Borr Drilling (NYSE:BORR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The firm had revenue of $241.60 million during the quarter. Borr Drilling had a return on equity of 8.50% and a net margin of 8.70%.

Borr Drilling Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.19%. Borr Drilling’s dividend payout ratio is currently 30.30%.

Borr Drilling Company 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.