Encompass Capital Advisors LLC Takes $10.72 Million Position in Borr Drilling Limited (NYSE:BORR)

Encompass Capital Advisors LLC acquired a new stake in shares of Borr Drilling Limited (NYSE:BORR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,748,241 shares of the company's stock, valued at approximately $10,718,000. Encompass Capital Advisors LLC owned about 1.09% of Borr Drilling as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. 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 worth $30,000 after purchasing an additional 6,775 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Borr Drilling during the 4th quarter valued at approximately $59,000. Salvus Wealth Management LLC purchased a new stake in Borr Drilling during the 4th quarter valued at approximately $59,000. Natixis purchased a new position in shares of Borr Drilling in the fourth quarter valued at $58,000. Finally, CacheTech Inc. purchased a new position in shares of Borr Drilling in the fourth quarter valued at $81,000. 83.12% of the stock is owned by hedge funds and other institutional investors.

Borr Drilling Trading Up 1.9%

BORR traded up $0.04 during trading on Wednesday, reaching $1.89. The company had a trading volume of 2,687,824 shares, compared to its average volume of 3,751,019. The stock has a market cap of $451.10 million, a P/E ratio of 5.89 and a beta of 1.77. The business has a 50 day simple moving average of $2.03 and a 200-day simple moving average of $3.05. Borr Drilling Limited has a 52 week low of $1.62 and a 52 week 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 issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). The company had revenue of $263.10 million during the quarter, compared to the consensus estimate of $247.78 million. Borr Drilling had a return on equity of 8.27% and a net margin of 8.12%.

Borr Drilling Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were given a $0.02 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.08 dividend on an annualized basis and a yield of 4.24%. 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.