CacheTech Inc. Invests $81,000 in Borr Drilling Limited (NYSE:BORR)

CacheTech Inc. acquired a new stake in Borr Drilling Limited (NYSE:BORR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,690 shares of the company’s stock, valued at approximately $81,000.

Other large investors also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Borr Drilling by 0.6% in the 3rd quarter. State Street Corp now owns 3,905,259 shares of the company’s stock valued at $21,440,000 after acquiring an additional 22,800 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Borr Drilling during the third quarter worth $341,000. Barclays PLC grew its stake in shares of Borr Drilling by 52.9% in the third quarter. Barclays PLC now owns 718,537 shares of the company’s stock valued at $3,944,000 after buying an additional 248,482 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Borr Drilling in the 3rd quarter valued at $171,000. Finally, JPMorgan Chase & Co. lifted its stake in Borr Drilling by 1.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 432,893 shares of the company’s stock worth $2,377,000 after acquiring an additional 7,682 shares in the last quarter. Institutional investors and hedge funds own 83.12% of the company’s stock.

Borr Drilling Stock Performance

NYSE BORR opened at $1.94 on Tuesday. The company has a market cap of $473.93 million, a P/E ratio of 6.05 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. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a 50-day moving average of $2.48 and a two-hundred day moving average of $3.53.

Borr Drilling (NYSE:BORR) last announced 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 business had revenue of $263.10 million for the quarter, compared to analysts’ expectations of $247.78 million.

Borr Drilling Announces Dividend

The business 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. The ex-dividend date was Monday, March 3rd. This represents a $0.08 annualized dividend and a yield of 4.13%. 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.