Renaissance Technologies LLC Buys Shares of 227,800 Borr Drilling Limited (NYSE:BORR)

Renaissance Technologies LLC purchased a new position in shares of Borr Drilling Limited (NYSE:BORR - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 227,800 shares of the company's stock, valued at approximately $1,469,000. Renaissance Technologies LLC owned 0.15% of Borr Drilling as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC raised its holdings 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 acquiring an additional 3,110 shares during the period. Bleakley Financial Group LLC grew its stake in Borr Drilling by 4.5% during the first quarter. Bleakley Financial Group LLC now owns 90,901 shares of the company's stock worth $623,000 after buying an additional 3,874 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Borr Drilling by 16.2% during the 1st quarter. Principal Financial Group Inc. now owns 29,567 shares of the company's stock worth $203,000 after acquiring an additional 4,125 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Borr Drilling by 6.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,363 shares of the company's stock valued at $454,000 after acquiring an additional 4,520 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Borr Drilling by 31,600.0% in the 1st quarter. Covestor Ltd now owns 5,706 shares of the company's stock valued at $39,000 after purchasing an additional 5,688 shares in the last quarter. 83.12% of the stock is owned by institutional investors and hedge funds.

Borr Drilling Price Performance

BORR stock traded down $0.05 during trading on Friday, reaching $5.60. 1,590,302 shares of the company were exchanged, compared to its average volume of 1,949,484. Borr Drilling Limited has a twelve month low of $5.09 and a twelve month high of $7.61. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $854 million, a price-to-earnings ratio of 32.94 and a beta of 3.00. The company has a 50-day moving average of $5.90 and a two-hundred day moving average of $6.11.

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

Borr Drilling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 22nd were issued a $0.10 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 7.14%. Borr Drilling's dividend payout ratio (DPR) is presently 58.82%.

Analyst Ratings Changes

Separately, Evercore ISI raised Borr Drilling from an "in-line" rating to an "outperform" rating and set a $9.00 price target 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.