Borr Drilling Limited (NYSE:BORR) Stake Reduced by Geode Capital Management LLC

Geode Capital Management LLC trimmed its stake in Borr Drilling Limited (NYSE:BORR) by 0.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,830,098 shares of the company’s stock after selling 24,287 shares during the quarter. Geode Capital Management LLC owned approximately 1.12% of Borr Drilling worth $11,037,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its position in Borr Drilling by 0.6% in the 3rd quarter. State Street Corp now owns 3,905,259 shares of the company’s stock valued at $21,440,000 after purchasing an additional 22,800 shares during the last quarter. Barclays PLC raised its holdings in shares of Borr Drilling by 52.9% during the third 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 during the last quarter. Virtu Financial LLC acquired a new position in shares of Borr Drilling during the third quarter worth approximately $171,000. JPMorgan Chase & Co. grew its holdings in Borr Drilling by 1.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,893 shares of the company’s stock worth $2,377,000 after buying an additional 7,682 shares in the last quarter. Finally, Salvus Wealth Management LLC acquired a new stake in Borr Drilling in the 4th quarter valued at approximately $59,000. Institutional investors and hedge funds own 83.12% of the company’s stock.

Borr Drilling Trading Down 0.3 %

Shares of BORR stock opened at $1.80 on Wednesday. Borr Drilling Limited has a 1 year low of $1.62 and a 1 year high of $7.26. The firm has a market capitalization of $429.56 million, a PE ratio of 5.61 and a beta of 2.22. The stock has a fifty day moving average of $2.31 and a two-hundred day moving average of $3.39. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company had revenue of $263.10 million during the quarter, compared to analyst estimates of $247.78 million. Borr Drilling had a return on equity of 8.27% and a net margin of 8.12%.

Borr Drilling Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were paid a dividend of $0.02 per share. 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 4.46%. Borr Drilling’s dividend payout ratio is presently 31.25%.

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.