Borr Drilling Limited (NYSE:BORR) Shares Sold by Creative Planning

Creative Planning decreased its stake in Borr Drilling Limited (NYSE:BORR) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,730 shares of the company’s stock after selling 4,675 shares during the quarter. Creative Planning’s holdings in Borr Drilling were worth $476,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC grew its position in shares of Borr Drilling by 40.4% in the third quarter. SG Americas Securities LLC now owns 79,755 shares of the company’s stock valued at $438,000 after purchasing an additional 22,943 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Borr Drilling in the second quarter worth about $30,000. The Manufacturers Life Insurance Company lifted its stake in shares of Borr Drilling by 10.4% in the second quarter. The Manufacturers Life Insurance Company now owns 109,727 shares of the company’s stock worth $708,000 after buying an additional 10,375 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Borr Drilling in the second quarter worth about $1,954,000. Finally, Xponance Inc. lifted its stake in shares of Borr Drilling by 13.3% in the second 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. Institutional investors and hedge funds own 83.12% of the company’s stock.

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 target price on the stock in a research note on Friday, September 13th.

Borr Drilling Stock Up 5.3 %

Shares of NYSE:BORR opened at $4.41 on Thursday. The company has a market capitalization of $672.53 million, a PE ratio of 14.72 and a beta of 3.01. 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 twelve month low of $4.04 and a twelve month high of $7.61. The firm has a 50 day simple moving average of $5.26 and a 200-day simple moving average of $5.90.

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

Borr Drilling Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 9.07%. Borr Drilling’s payout ratio is currently 34.48%.

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.