LSV Asset Management Invests $128,000 in Borr Drilling Limited (NYSE:BORR)

LSV Asset Management bought a new stake in Borr Drilling Limited (NYSE:BORR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 32,700 shares of the company’s stock, valued at approximately $128,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Renaissance Technologies LLC grew its position in Borr Drilling by 5,369.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,509,600 shares of the company’s stock valued at $5,887,000 after acquiring an additional 1,482,000 shares in the last quarter. Rovida Investment Management Ltd acquired a new stake in Borr Drilling during the 4th quarter valued at $5,070,000. Tejara Capital Ltd increased its stake in Borr Drilling by 46.8% during the 4th quarter. Tejara Capital Ltd now owns 2,201,589 shares of the company’s stock worth $8,418,000 after buying an additional 701,478 shares during the period. FIL Ltd increased its stake in Borr Drilling by 2.4% during the 4th quarter. FIL Ltd now owns 11,593,801 shares of the company’s stock worth $45,216,000 after buying an additional 267,791 shares during the period. Finally, Barclays PLC lifted its holdings in Borr Drilling by 52.9% in the 3rd quarter. Barclays PLC now owns 718,537 shares of the company’s stock worth $3,944,000 after buying an additional 248,482 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 $1.89 on Wednesday. The firm has a 50-day moving average of $2.45 and a two-hundred day moving average of $3.52. 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 market cap of $461.69 million, a P/E ratio of 5.89 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.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%. The business had revenue of $263.10 million during the quarter, compared to analysts’ expectations of $247.78 million.

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 paid 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 dividend yield of 4.24%. Borr Drilling’s dividend payout ratio (DPR) 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.