Barclays PLC Boosts Position in Borr Drilling Limited (NYSE:BORR)

Barclays PLC increased its holdings in Borr Drilling Limited (NYSE:BORR) by 52.9% in the third quarter, HoldingsChannel.com reports. The fund owned 718,537 shares of the company’s stock after acquiring an additional 248,482 shares during the period. Barclays PLC’s holdings in Borr Drilling were worth $3,944,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new position in shares of Borr Drilling during the 2nd quarter worth approximately $30,000. Signaturefd LLC grew its stake in Borr Drilling by 666.6% in the second quarter. Signaturefd LLC now owns 7,865 shares of the company’s stock worth $51,000 after purchasing an additional 6,839 shares during the period. Xponance Inc. raised its holdings in Borr Drilling by 13.3% in the second quarter. Xponance Inc. now owns 15,058 shares of the company’s stock worth $97,000 after purchasing an additional 1,767 shares in the last quarter. Sei Investments Co. purchased a new position in Borr Drilling during the second quarter valued at $99,000. Finally, SCP Investment LP purchased a new position in Borr Drilling during the third quarter valued at $158,000. Institutional investors own 83.12% of the company’s stock.

Analyst Ratings Changes

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

Borr Drilling Price Performance

BORR stock opened at $3.60 on Monday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $909.30 million, a price-to-earnings ratio of 10.91 and a beta of 2.95. The firm has a 50 day moving average price of $4.11 and a 200-day moving average price of $5.40. Borr Drilling Limited has a 52-week low of $3.29 and a 52-week high of $7.61.

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

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. 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 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.