Cyrus Capital Partners L.P. Takes Position in Borr Drilling Limited (NYSE:BORR)

Cyrus Capital Partners L.P. acquired a new stake in shares of Borr Drilling Limited (NYSE:BORR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 150,000 shares of the company's stock, valued at approximately $585,000. Borr Drilling comprises 0.2% of Cyrus Capital Partners L.P.'s portfolio, making the stock its 5th largest holding. Cyrus Capital Partners L.P. owned approximately 0.06% of Borr Drilling as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC boosted its holdings in Borr Drilling by 5,369.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,509,600 shares of the company's stock valued at $5,887,000 after purchasing an additional 1,482,000 shares in the last quarter. Rovida Investment Management Ltd purchased a new stake in shares of Borr Drilling in the fourth quarter valued at approximately $5,070,000. Marshall Wace LLP grew its holdings in Borr Drilling by 163.2% during the fourth quarter. Marshall Wace LLP now owns 1,628,275 shares of the company's stock worth $6,350,000 after acquiring an additional 1,009,744 shares during the period. Tejara Capital Ltd raised its position in Borr Drilling by 46.8% in the fourth quarter. Tejara Capital Ltd now owns 2,201,589 shares of the company's stock worth $8,418,000 after acquiring an additional 701,478 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Borr Drilling by 92.8% in the fourth quarter. Barclays PLC now owns 1,385,690 shares of the company's stock valued at $5,405,000 after acquiring an additional 667,153 shares during the period. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

Borr Drilling Price Performance

Shares of NYSE:BORR traded up $0.08 on Thursday, reaching $1.78. 12,884,747 shares of the company were exchanged, compared to its average volume of 3,649,657. The company has a 50-day moving average of $2.16 and a 200-day moving average of $3.26. 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 firm has a market cap of $425.01 million, a price-to-earnings ratio of 5.55 and a beta of 2.22. Borr Drilling Limited has a 1-year low of $1.62 and a 1-year 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 company had revenue of $263.10 million for the quarter, compared to analyst estimates of $247.78 million.

Borr Drilling Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.08 annualized dividend and a yield of 4.50%. Borr Drilling's dividend payout ratio is presently 31.25%.

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.