Westend Capital Management LLC Takes $86,000 Position in Borr Drilling Limited (NYSE:BORR)

Westend Capital Management LLC acquired a new stake in Borr Drilling Limited (NYSE:BORR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 21,989 shares of the company’s stock, valued at approximately $86,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. HITE Hedge Asset Management LLC acquired a new position in Borr Drilling during the third quarter worth about $4,214,000. Cubist Systematic Strategies LLC acquired a new position in shares of Borr Drilling during the 2nd quarter worth approximately $1,954,000. Barclays PLC lifted its stake in Borr Drilling by 52.9% in the 3rd 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. Renaissance Technologies LLC acquired a new stake in Borr Drilling during the 2nd quarter valued at $1,469,000. Finally, XTX Topco Ltd purchased a new position in Borr Drilling during the third quarter worth $443,000. 83.12% of the stock is owned by institutional investors and hedge funds.

Borr Drilling Stock Performance

NYSE BORR opened at $3.47 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91. The stock has a market cap of $875.19 million, a price-to-earnings ratio of 10.50 and a beta of 2.89. Borr Drilling Limited has a fifty-two week low of $3.29 and a fifty-two week high of $7.42. The business has a fifty day moving average of $3.80 and a 200-day moving average of $5.06.

Borr Drilling (NYSE:BORR) last released its earnings results on Wednesday, November 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The firm 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 company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.02 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.08 annualized dividend and a yield of 2.31%. Borr Drilling’s payout ratio is currently 30.30%.

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.