Cubist Systematic Strategies LLC Buys New Stake in Borr Drilling Limited (NYSE:BORR)

Cubist Systematic Strategies LLC bought a new stake in shares of Borr Drilling Limited (NYSE:BORR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 302,899 shares of the company's stock, valued at approximately $1,954,000. Cubist Systematic Strategies LLC owned 0.20% of Borr Drilling as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Xponance Inc. grew its position in shares of Borr Drilling by 13.3% during the 2nd quarter. Xponance Inc. now owns 15,058 shares of the company's stock valued at $97,000 after acquiring an additional 1,767 shares during the period. ProShare Advisors LLC lifted its stake in Borr Drilling by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 39,513 shares of the company's stock valued at $271,000 after buying an additional 3,110 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Borr Drilling by 4.5% in the 1st quarter. Bleakley Financial Group LLC now owns 90,901 shares of the company's stock valued at $623,000 after buying an additional 3,874 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Borr Drilling by 16.2% in the 1st quarter. Principal Financial Group Inc. now owns 29,567 shares of the company's stock valued at $203,000 after buying an additional 4,125 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Borr Drilling by 6.9% in 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 in the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Borr Drilling Price Performance

BORR remained flat at $5.49 during trading on Tuesday. 2,497,611 shares of the company's stock were exchanged, compared to its average volume of 1,957,060. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.75. The stock has a 50-day simple moving average of $5.99 and a two-hundred day simple moving average of $6.14. Borr Drilling Limited has a twelve month low of $5.09 and a twelve month high of $7.61. The company has a market capitalization of $837.23 million, a P/E ratio of 32.24 and a beta of 3.00.

Borr Drilling (NYSE:BORR - Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter. Borr Drilling had a net margin of 8.15% and a return on equity of 7.69%. The business had revenue of $271.90 million for the quarter.

Borr Drilling Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.29%. Borr Drilling's dividend payout ratio is currently 58.82%.

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.