Rhumbline Advisers Buys 73,008 Shares of Borr Drilling Limited (NYSE:BORR)

Rhumbline Advisers lifted its position in Borr Drilling Limited (NYSE:BORR) by 24.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 371,945 shares of the company’s stock after purchasing an additional 73,008 shares during the quarter. Rhumbline Advisers’ holdings in Borr Drilling were worth $2,399,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Signaturefd LLC grew its holdings in Borr Drilling by 666.6% during the 2nd quarter. Signaturefd LLC now owns 7,865 shares of the company’s stock valued at $51,000 after buying an additional 6,839 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Borr Drilling by 6.9% during the 2nd 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. Bank of New York Mellon Corp grew its holdings in shares of Borr Drilling by 28.0% in the second quarter. Bank of New York Mellon Corp now owns 827,121 shares of the company’s stock valued at $5,335,000 after purchasing an additional 180,910 shares in the last quarter. SG Americas Securities LLC increased its position in Borr Drilling by 335.3% in the second quarter. SG Americas Securities LLC now owns 56,812 shares of the company’s stock worth $366,000 after purchasing an additional 43,762 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Borr Drilling by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 62,807 shares of the company’s stock worth $431,000 after purchasing an additional 7,979 shares during the last quarter. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

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 objective for the company in a research report on Friday, September 13th.

Borr Drilling Trading Down 1.7 %

BORR opened at $5.58 on Thursday. The stock has a 50-day moving average of $6.19 and a 200 day moving average of $6.19. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.75. Borr Drilling Limited has a 12 month low of $5.09 and a 12 month high of $7.80. The firm has a market cap of $850.19 million, a P/E ratio of 32.79 and a beta of 3.00.

Borr Drilling (NYSE:BORR) last announced its earnings results on Wednesday, August 14th. The company reported $0.12 EPS for the quarter. The firm had revenue of $271.90 million during the quarter. Borr Drilling had a return on equity of 7.69% and a net margin of 8.15%.

Borr Drilling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.17%. The ex-dividend date was Thursday, August 22nd. Borr Drilling’s payout ratio is 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.