Simplicity Solutions LLC Has $641,000 Stake in Borr Drilling Limited (NYSE:BORR)

Simplicity Solutions LLC grew its holdings in Borr Drilling Limited (NYSE:BORR) by 12.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 87,027 shares of the company’s stock after acquiring an additional 9,896 shares during the period. Simplicity Solutions LLC’s holdings in Borr Drilling were worth $641,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BORR. BlackRock Inc. increased its stake in shares of Borr Drilling by 6.9% during the second quarter. BlackRock Inc. now owns 13,959,846 shares of the company’s stock worth $105,118,000 after purchasing an additional 897,465 shares during the period. State Street Corp increased its stake in shares of Borr Drilling by 12.1% during the second quarter. State Street Corp now owns 3,413,973 shares of the company’s stock worth $25,707,000 after purchasing an additional 367,344 shares during the period. FMR LLC increased its stake in shares of Borr Drilling by 171.0% during the third quarter. FMR LLC now owns 3,128,930 shares of the company’s stock worth $22,215,000 after purchasing an additional 1,974,249 shares during the period. Barclays PLC increased its stake in shares of Borr Drilling by 68.0% during the third quarter. Barclays PLC now owns 2,423,679 shares of the company’s stock worth $17,208,000 after purchasing an additional 981,153 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Borr Drilling by 16.3% during the second quarter. Geode Capital Management LLC now owns 2,175,842 shares of the company’s stock worth $16,384,000 after purchasing an additional 305,508 shares during the period. 83.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI lowered their target price on Borr Drilling from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Friday, February 23rd.

Borr Drilling Price Performance

Borr Drilling stock opened at $5.73 on Thursday. The stock’s fifty day moving average price is $6.34 and its two-hundred day moving average price is $6.52. Borr Drilling Limited has a one year low of $5.55 and a one year high of $9.01. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $873.77 million, a PE ratio of 71.63 and a beta of 3.02.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Borr Drilling had a return on equity of 2.38% and a net margin of 2.86%. The firm had revenue of $220.60 million for the quarter.

Borr Drilling Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were issued a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.47%. The ex-dividend date of this dividend was Friday, March 1st.

Borr Drilling Company 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.