Creative Planning Raises Stake in Borr Drilling Limited (NYSE:BORR)

Creative Planning raised its position in Borr Drilling Limited (NYSE:BORR) by 234.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,405 shares of the company’s stock after purchasing an additional 64,109 shares during the period. Creative Planning owned 0.06% of Borr Drilling worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BORR. Virtu Financial LLC acquired a new stake in Borr Drilling in the fourth quarter valued at $202,000. Syquant Capital Sas purchased a new stake in Borr Drilling during the first quarter worth approximately $188,000. Ballentine Partners LLC purchased a new stake in Borr Drilling during the first quarter worth approximately $88,000. Principal Financial Group Inc. boosted its holdings in Borr Drilling by 16.2% in the first quarter. Principal Financial Group Inc. now owns 29,567 shares of the company’s stock valued at $203,000 after purchasing an additional 4,125 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Borr Drilling during the first quarter worth approximately $468,000. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Borr Drilling Stock Up 1.7 %

Borr Drilling stock opened at $5.37 on Monday. The company has a market capitalization of $818.93 million, a P/E ratio of 31.59 and a beta of 2.99. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.57 and a current ratio of 1.57. Borr Drilling Limited has a fifty-two week low of $5.09 and a fifty-two week high of $7.61. The stock has a 50-day simple moving average of $5.78 and a 200-day simple moving average of $6.05.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter. The business had revenue of $271.90 million during the quarter. Borr Drilling had a return on equity of 7.69% and a net margin of 8.15%.

Borr Drilling Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 22nd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.45%. Borr Drilling’s payout ratio is 58.82%.

Analysts Set New Price Targets

Separately, Evercore ISI upgraded shares of Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 target price for the company in a report 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.