Private Advisor Group LLC Boosts Stake in Borr Drilling Limited (NYSE:BORR)

Private Advisor Group LLC lifted its holdings in Borr Drilling Limited (NYSE:BORR) by 31.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,443 shares of the company’s stock after buying an additional 8,054 shares during the quarter. Private Advisor Group LLC’s holdings in Borr Drilling were worth $184,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Capital International Investors boosted its position in Borr Drilling by 35.4% during the first quarter. Capital International Investors now owns 17,608,781 shares of the company’s stock worth $116,834,000 after purchasing an additional 4,601,527 shares in the last quarter. Capital International Inc. CA boosted its position in Borr Drilling by 19.5% during the first quarter. Capital International Inc. CA now owns 2,646,820 shares of the company’s stock worth $18,131,000 after purchasing an additional 431,861 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Borr Drilling during the second quarter worth $1,954,000. Renaissance Technologies LLC purchased a new stake in Borr Drilling during the second quarter worth $1,469,000. Finally, Vanguard Group Inc. boosted its position in Borr Drilling by 2.2% during the first quarter. Vanguard Group Inc. now owns 9,473,089 shares of the company’s stock worth $64,891,000 after purchasing an additional 202,118 shares in the last quarter. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Borr Drilling Price Performance

Shares of NYSE:BORR opened at $3.96 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.57 and a current ratio of 1.57. Borr Drilling Limited has a 52-week low of $3.76 and a 52-week high of $7.61. The stock’s fifty day simple moving average is $5.15 and its 200-day simple moving average is $5.86.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). Borr Drilling had a net margin of 8.15% and a return on equity of 7.69%. The company had revenue of $241.60 million during the quarter.

Borr Drilling Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.08 annualized dividend and a dividend yield of 2.02%. Borr Drilling’s dividend payout ratio is currently 34.48%.

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.