Swiss National Bank Cuts Stock Holdings in Borr Drilling Limited (NYSE:BORR)

Swiss National Bank cut its stake in Borr Drilling Limited (NYSE:BORR) by 55.2% in the fourth quarter, HoldingsChannel reports. The firm owned 198,031 shares of the company’s stock after selling 243,705 shares during the quarter. Swiss National Bank’s holdings in Borr Drilling were worth $708,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC acquired a new stake in Borr Drilling in the 4th quarter valued at about $920,000. SBI Securities Co. Ltd. acquired a new stake in Borr Drilling in the fourth quarter valued at approximately $59,000. Janney Montgomery Scott LLC purchased a new position in Borr Drilling in the fourth quarter worth approximately $130,000. SG Americas Securities LLC grew its holdings in Borr Drilling by 6.9% during the 4th 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 in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Borr Drilling in the 4th quarter valued at approximately $83,000. 83.12% of the stock is owned by institutional investors and hedge funds.

Borr Drilling Price Performance

Shares of BORR opened at $2.24 on Friday. The firm has a market capitalization of $547.41 million, a price-to-earnings ratio of 6.98 and a beta of 2.69. The firm’s fifty day simple moving average is $2.85 and its 200-day simple moving average is $3.85. Borr Drilling Limited has a twelve month low of $2.08 and a twelve month high of $7.26. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The business had revenue of $263.10 million during the quarter, compared to analyst estimates 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 business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a $0.02 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.08 annualized dividend and a yield of 3.58%. Borr Drilling’s dividend payout ratio is currently 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.