Fmr LLC Grows Holdings in Borr Drilling Limited (NYSE:BORR)

Fmr LLC increased its holdings in Borr Drilling Limited (NYSE:BORR) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,668,451 shares of the company’s stock after acquiring an additional 28,587 shares during the quarter. Fmr LLC’s holdings in Borr Drilling were worth $42,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of BORR. Point72 DIFC Ltd purchased a new stake in Borr Drilling in the second quarter worth about $30,000. Signaturefd LLC grew its stake in shares of Borr Drilling by 666.6% in the 2nd quarter. Signaturefd LLC now owns 7,865 shares of the company’s stock worth $51,000 after buying an additional 6,839 shares during the last quarter. Xponance Inc. increased its position in 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 buying an additional 1,767 shares in the last quarter. Sei Investments Co. purchased a new position in Borr Drilling during the second quarter valued at $99,000. Finally, SCP Investment LP bought a new stake in Borr Drilling in the third quarter worth $158,000. 83.12% of the stock is owned by hedge funds and other institutional investors.

Borr Drilling Stock Down 2.6 %

Shares of Borr Drilling stock opened at $3.36 on Friday. The company has a 50-day simple moving average of $4.45 and a two-hundred day simple moving average of $5.61. Borr Drilling Limited has a 52-week low of $3.29 and a 52-week high of $7.61. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91.

Borr Drilling (NYSE:BORR) 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). Borr Drilling had a return on equity of 8.50% and a net margin of 8.70%. The firm had revenue of $241.60 million during the quarter.

Borr Drilling Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, November 29th. This represents a $0.08 annualized dividend and a dividend yield of 2.38%. Borr Drilling’s dividend payout ratio (DPR) is presently 30.30%.

Analysts Set New Price Targets

Separately, Evercore ISI upgraded 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.

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.