Wells Fargo & Company MN Boosts Stake in Borr Drilling Limited (NYSE:BORR)

Wells Fargo & Company MN lifted its holdings in Borr Drilling Limited (NYSE:BORR) by 70.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 187,790 shares of the company’s stock after buying an additional 77,344 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of Borr Drilling worth $732,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BORR. SG Americas Securities LLC raised its position in Borr Drilling by 6.9% in the fourth quarter. SG Americas Securities LLC now owns 85,255 shares of the company’s stock worth $332,000 after acquiring an additional 5,500 shares during the period. X Square Capital LLC raised its holdings in shares of Borr Drilling by 3.2% in the 4th quarter. X Square Capital LLC now owns 183,434 shares of the company’s stock worth $715,000 after purchasing an additional 5,707 shares during the period. JPMorgan Chase & Co. lifted its stake in Borr Drilling by 1.8% in the third quarter. JPMorgan Chase & Co. now owns 432,893 shares of the company’s stock valued at $2,377,000 after purchasing an additional 7,682 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Borr Drilling during the fourth quarter valued at $59,000. Finally, Salvus Wealth Management LLC purchased a new stake in Borr Drilling in the fourth quarter worth $59,000. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Borr Drilling Stock Performance

Shares of BORR opened at $1.78 on Friday. 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 firm has a market cap of $425.01 million, a PE ratio of 5.55 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. The stock’s fifty day moving average price is $2.14 and its two-hundred day moving average price is $3.24.

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

Borr Drilling Dividend Announcement

The firm also recently disclosed 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 yield of 4.50%. Borr Drilling’s dividend payout ratio is 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.