De Lisle Partners LLP Buys 30,000 Shares of Borr Drilling Limited (NYSE:BORR)

De Lisle Partners LLP increased its stake in Borr Drilling Limited (NYSE:BORR) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,571,424 shares of the company’s stock after buying an additional 30,000 shares during the quarter. Borr Drilling makes up 1.4% of De Lisle Partners LLP’s holdings, making the stock its 17th biggest position. De Lisle Partners LLP’s holdings in Borr Drilling were worth $8,619,000 as of its most recent filing with the Securities and Exchange Commission.

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

Borr Drilling Trading Up 1.9 %

Shares of Borr Drilling stock opened at $3.69 on Thursday. The company has a market capitalization of $562.73 million, a P/E ratio of 11.18 and a beta of 3.01. The business has a 50 day moving average price of $4.77 and a 200 day moving average price of $5.73. Borr Drilling Limited has a 1 year low of $3.61 and a 1 year high of $7.61. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41.

Borr Drilling (NYSE:BORR) last released 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). Borr Drilling had a return on equity of 8.50% and a net margin of 8.70%. The business had revenue of $241.60 million for the quarter.

Borr Drilling Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.08 annualized dividend and a dividend yield of 2.17%. Borr Drilling’s payout ratio is currently 30.30%.

Wall Street Analyst Weigh In

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 research note on Friday, September 13th.

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.