Virtu Financial LLC Takes $171,000 Position in Borr Drilling Limited (NYSE:BORR)

Virtu Financial LLC bought a new stake in shares of Borr Drilling Limited (NYSE:BORR) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 31,139 shares of the company’s stock, valued at approximately $171,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in Borr Drilling during the second quarter valued at approximately $30,000. Signaturefd LLC boosted its stake in Borr Drilling by 666.6% in the 2nd quarter. Signaturefd LLC now owns 7,865 shares of the company’s stock valued at $51,000 after buying an additional 6,839 shares in the last quarter. Xponance Inc. grew its position in Borr Drilling by 13.3% in the second quarter. Xponance Inc. now owns 15,058 shares of the company’s stock valued at $97,000 after acquiring an additional 1,767 shares during the period. Sei Investments Co. acquired a new position in Borr Drilling during the second quarter worth $99,000. Finally, SCP Investment LP bought a new position in shares of Borr Drilling during the third quarter valued at $158,000. Institutional investors own 83.12% of the company’s stock.

Borr Drilling Stock Performance

NYSE:BORR opened at $3.77 on Thursday. The stock has a market capitalization of $574.93 million, a P/E ratio of 11.42 and a beta of 2.95. 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 Limited has a 1 year low of $3.29 and a 1 year high of $7.61. The firm has a 50 day moving average of $4.18 and a 200-day moving average of $5.44.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). The business had revenue of $241.60 million during the quarter. Borr Drilling had a net margin of 8.70% and a return on equity of 8.50%.

Borr Drilling Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.08 annualized dividend and a yield of 2.12%. Borr Drilling’s dividend payout ratio (DPR) is 30.30%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI raised shares of Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 target price on the stock in a report on Friday, September 13th.

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.