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

Barclays PLC increased its position in shares of Borr Drilling Limited (NYSE:BORR - Free Report) by 52.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 718,537 shares of the company's stock after buying an additional 248,482 shares during the quarter. Barclays PLC's holdings in Borr Drilling were worth $3,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of Borr Drilling in the second quarter valued at approximately $30,000. Signaturefd LLC boosted its holdings in Borr Drilling by 666.6% during the 2nd quarter. Signaturefd LLC now owns 7,865 shares of the company's stock worth $51,000 after acquiring an additional 6,839 shares during the last quarter. Xponance Inc. raised its holdings in shares of Borr Drilling by 13.3% in 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 last quarter. Sei Investments Co. bought a new position in shares of Borr Drilling during the second quarter valued at about $99,000. Finally, SCP Investment LP bought a new stake in Borr Drilling in the 3rd quarter worth about $158,000. Institutional investors own 83.12% of the company's stock.

Borr Drilling Price Performance

Shares of NYSE BORR traded up $0.12 during midday trading on Monday, hitting $3.72. 3,891,511 shares of the company's stock were exchanged, compared to its average volume of 2,367,362. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. The business's fifty day moving average price is $4.11 and its two-hundred day moving average price is $5.39. The company has a market cap of $939.61 million, a price-to-earnings ratio of 11.27 and a beta of 2.95. Borr Drilling Limited has a 12-month low of $3.29 and a 12-month high of $7.61.

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

Borr Drilling Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.08 annualized dividend and a yield of 2.15%. Borr Drilling's payout ratio is 30.30%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI upgraded shares of Borr Drilling from an "in-line" rating to an "outperform" rating and set a $9.00 price objective 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.