Concentric Capital Strategies LP Takes Position in Borr Drilling Limited (NYSE:BORR)

Concentric Capital Strategies LP bought a new stake in Borr Drilling Limited (NYSE:BORR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 413,440 shares of the company's stock, valued at approximately $1,612,000. Concentric Capital Strategies LP owned 0.16% of Borr Drilling at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BORR. Sterling Capital Management LLC lifted its stake in shares of Borr Drilling by 828.2% in the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company's stock valued at $30,000 after purchasing an additional 6,775 shares during the period. Natixis acquired a new position in shares of Borr Drilling in the 4th quarter valued at $58,000. SBI Securities Co. Ltd. acquired a new position in shares of Borr Drilling in the 4th quarter valued at $59,000. Salvus Wealth Management LLC acquired a new position in shares of Borr Drilling in the 4th quarter valued at $59,000. Finally, CacheTech Inc. acquired a new position in shares of Borr Drilling in the 4th quarter valued at $81,000. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Borr Drilling Stock Performance

Shares of BORR traded up $0.02 during trading hours on Tuesday, hitting $1.92. The stock had a trading volume of 2,758,395 shares, compared to its average volume of 3,732,718. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a 50-day moving average price of $2.03 and a 200 day moving average price of $3.06. Borr Drilling Limited has a fifty-two week low of $1.62 and a fifty-two week high of $7.26. The firm has a market capitalization of $458.28 million, a price-to-earnings ratio of 5.98 and a beta of 1.77.

Borr Drilling (NYSE:BORR - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $263.10 million during the quarter, compared to analyst estimates of $247.78 million. Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%.

Borr Drilling Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Monday, March 3rd. Borr Drilling's dividend payout ratio is presently 31.25%.

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.