Intech Investment Management LLC Purchases 55,617 Shares of Borr Drilling Limited (NYSE:BORR)

Intech Investment Management LLC boosted its holdings in Borr Drilling Limited (NYSE:BORR) by 100.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 110,720 shares of the company’s stock after purchasing an additional 55,617 shares during the quarter. Intech Investment Management LLC’s holdings in Borr Drilling were worth $432,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. HITE Hedge Asset Management LLC bought a new position in shares of Borr Drilling in the third quarter worth about $4,214,000. Tejara Capital Ltd boosted its stake in Borr Drilling by 46.8% in the 4th quarter. Tejara Capital Ltd now owns 2,201,589 shares of the company’s stock worth $8,418,000 after purchasing an additional 701,478 shares during the period. Barclays PLC grew its holdings in Borr Drilling by 52.9% during the 3rd quarter. Barclays PLC now owns 718,537 shares of the company’s stock valued at $3,944,000 after buying an additional 248,482 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Borr Drilling during the fourth quarter valued at approximately $920,000. Finally, XTX Topco Ltd purchased a new position in shares of Borr Drilling in the third quarter worth $443,000. 83.12% of the stock is owned by institutional investors.

Borr Drilling Stock Performance

BORR opened at $2.39 on Tuesday. 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 stock has a market capitalization of $602.41 million, a price-to-earnings ratio of 7.45 and a beta of 2.69. The company has a fifty day moving average of $2.96 and a 200 day moving average of $3.93. Borr Drilling Limited has a fifty-two week low of $2.08 and a fifty-two week high of $7.26.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%. The firm had revenue of $263.10 million for the quarter, compared to analysts’ expectations of $247.78 million.

Borr Drilling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.02 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.08 annualized dividend and a dividend yield of 3.35%. Borr Drilling’s dividend payout ratio (DPR) is 31.25%.

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.