DnB Asset Management AS Makes New $136,000 Investment in Borr Drilling Limited (NYSE:BORR)

DnB Asset Management AS purchased a new position in shares of Borr Drilling Limited (NYSE:BORR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 35,000 shares of the company’s stock, valued at approximately $136,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Salvus Wealth Management LLC acquired a new stake in Borr Drilling in the 4th quarter valued at about $59,000. SBI Securities Co. Ltd. purchased a new stake in shares of Borr Drilling during the fourth quarter worth approximately $59,000. Ballentine Partners LLC acquired a new stake in Borr Drilling in the fourth quarter valued at approximately $83,000. Westend Capital Management LLC purchased a new position in Borr Drilling in the fourth quarter worth approximately $86,000. Finally, Cibc World Markets Corp acquired a new position in Borr Drilling during the 4th quarter worth approximately $87,000. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Borr Drilling Price Performance

Shares of BORR opened at $2.28 on Thursday. The firm has a market capitalization of $558.43 million, a price-to-earnings ratio of 7.13 and a beta of 2.69. The firm’s fifty day simple moving average is $2.78 and its 200-day simple moving average is $3.79. Borr Drilling Limited has a twelve month low of $2.08 and a twelve month high of $7.26. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91.

Borr Drilling (NYSE:BORR) last posted its earnings results on Wednesday, February 19th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business had revenue of $263.10 million during the quarter, compared to analysts’ expectations 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Monday, March 3rd. Borr Drilling’s payout ratio is 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.