Public Employees Retirement System of Ohio Invests $341,000 in Borr Drilling Limited (NYSE:BORR)

Public Employees Retirement System of Ohio bought a new stake in Borr Drilling Limited (NYSE:BORR) in the third quarter, HoldingsChannel.com reports. The fund bought 61,952 shares of the company’s stock, valued at approximately $341,000.

Several other large investors also recently bought and sold shares of the business. Xponance Inc. raised its position in Borr Drilling by 13.3% during the second 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. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Borr Drilling by 6.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,363 shares of the company’s stock valued at $454,000 after buying an additional 4,520 shares during the period. Point72 DIFC Ltd bought a new stake in Borr Drilling in the second quarter worth $30,000. Signaturefd LLC boosted its stake in Borr Drilling by 666.6% during the second quarter. Signaturefd LLC now owns 7,865 shares of the company’s stock worth $51,000 after buying an additional 6,839 shares during the period. Finally, Private Advisor Group LLC increased its position in Borr Drilling by 31.7% during the third quarter. Private Advisor Group LLC now owns 33,443 shares of the company’s stock valued at $184,000 after acquiring an additional 8,054 shares during the last quarter. Institutional investors own 83.12% of the company’s stock.

Wall Street Analyst Weigh In

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

Borr Drilling Stock Down 1.6 %

Shares of NYSE BORR opened at $3.60 on Friday. Borr Drilling Limited has a 1 year low of $3.29 and a 1 year high of $7.61. The firm has a 50-day simple moving average of $4.11 and a two-hundred day simple moving average of $5.41. The company has a market cap of $909.30 million, a P/E ratio of 10.91 and a beta of 2.95. 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, November 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). Borr Drilling had a return on equity of 8.50% and a net margin of 8.70%. The business had revenue of $241.60 million for the quarter.

Borr Drilling Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Friday, November 29th. Borr Drilling’s dividend payout ratio is currently 30.30%.

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.