Borr Drilling Limited (NYSE:BORR) Stock Position Trimmed by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Borr Drilling Limited (NYSE:BORR) by 13.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,831 shares of the company’s stock after selling 22,531 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Borr Drilling were worth $768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in shares of Borr Drilling during the second quarter valued at $30,000. Signaturefd LLC increased its stake 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 during the period. Xponance Inc. raised 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 worth $97,000 after buying an additional 1,767 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Borr Drilling in the 2nd quarter worth approximately $99,000. Finally, SCP Investment LP bought a new position in shares of Borr Drilling in the third quarter valued at approximately $158,000. Institutional investors own 83.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI raised Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 target price on the stock in a report on Friday, September 13th.

Borr Drilling Trading Down 2.9 %

Shares of Borr Drilling stock opened at $3.66 on Friday. The business has a fifty day simple moving average of $4.14 and a 200-day simple moving average of $5.43. Borr Drilling Limited has a fifty-two week low of $3.29 and a fifty-two week high of $7.61. The firm has a market cap of $558.15 million, a price-to-earnings ratio of 11.09 and a beta of 2.95. 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 issued its quarterly earnings results 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 business had revenue of $241.60 million during the quarter. Borr Drilling had a net margin of 8.70% and a return on equity of 8.50%.

Borr Drilling Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.02 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.08 annualized dividend and a yield of 2.19%. Borr Drilling’s dividend payout ratio (DPR) is 30.30%.

Borr Drilling Company 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.