Barclays PLC Raises Stock Position in Borr Drilling Limited (NYSE:BORR)

Barclays PLC grew its stake in shares of Borr Drilling Limited (NYSE:BORR - Free Report) by 92.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,385,690 shares of the company's stock after purchasing an additional 667,153 shares during the period. Barclays PLC owned approximately 0.55% of Borr Drilling worth $5,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in Borr Drilling by 828.2% in the fourth quarter. Sterling Capital Management LLC now owns 7,593 shares of the company's stock worth $30,000 after acquiring an additional 6,775 shares in the last quarter. LSV Asset Management purchased a new stake in Borr Drilling during the fourth quarter valued at $128,000. Renaissance Technologies LLC boosted its position in Borr Drilling by 5,369.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,509,600 shares of the company's stock worth $5,887,000 after purchasing an additional 1,482,000 shares during the last quarter. FIL Ltd grew its stake in shares of Borr Drilling by 2.4% during the 4th quarter. FIL Ltd now owns 11,593,801 shares of the company's stock valued at $45,216,000 after purchasing an additional 267,791 shares during the period. Finally, Aristides Capital LLC purchased a new stake in shares of Borr Drilling during the 4th quarter valued at about $211,000. Hedge funds and other institutional investors own 83.12% of the company's stock.

Borr Drilling Stock Performance

NYSE BORR traded up $0.09 on Thursday, hitting $1.79. 2,470,809 shares of the company traded hands, compared to its average volume of 3,599,392. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. The business's 50 day moving average price is $2.16 and its 200-day moving average price is $3.26. The company has a market capitalization of $427.17 million, a price-to-earnings ratio of 5.58 and a beta of 2.22. Borr Drilling Limited has a 52-week low of $1.62 and a 52-week high of $7.26.

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

Borr Drilling Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 4.48%. The ex-dividend date was Monday, March 3rd. Borr Drilling's payout ratio is currently 31.25%.

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.