FIL Ltd Buys 267,791 Shares of Borr Drilling Limited (NYSE:BORR)

FIL Ltd increased its position in shares of Borr Drilling Limited (NYSE:BORR - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,593,801 shares of the company's stock after purchasing an additional 267,791 shares during the period. FIL Ltd owned about 4.59% of Borr Drilling worth $45,216,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BORR. Barclays PLC lifted its holdings in shares of Borr Drilling by 52.9% during the 3rd quarter. Barclays PLC now owns 718,537 shares of the company's stock worth $3,944,000 after acquiring an additional 248,482 shares during the period. Tejara Capital Ltd grew its stake in shares of Borr Drilling by 46.8% in the 4th quarter. Tejara Capital Ltd now owns 2,201,589 shares of the company's stock valued at $8,418,000 after purchasing an additional 701,478 shares during the period. Rovida Investment Management Ltd acquired a new position in shares of Borr Drilling in the 4th quarter worth approximately $5,070,000. HighTower Advisors LLC bought a new position in shares of Borr Drilling during the 4th quarter worth approximately $920,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Borr Drilling in the 4th quarter valued at $59,000. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Borr Drilling Price Performance

Borr Drilling stock traded up $0.07 during mid-day trading on Wednesday, hitting $1.95. 1,354,094 shares of the company were exchanged, compared to its average volume of 5,830,299. The company has a market capitalization of $476.38 million, a PE ratio of 6.08 and a beta of 2.22. The business has a fifty day moving average of $2.45 and a 200 day moving average of $3.52. Borr Drilling Limited has a 1-year low of $1.62 and a 1-year high of $7.26. 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 - Get Free Report) last announced its quarterly 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 for the quarter, compared to the consensus estimate 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a $0.02 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.08 annualized dividend and a yield of 4.11%. Borr Drilling's payout ratio is 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.