Public Employees Retirement System of Ohio Acquires New Stake in Borr Drilling Limited (NYSE:BORR)

Public Employees Retirement System of Ohio bought a new position in Borr Drilling Limited (NYSE:BORR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 61,952 shares of the company’s stock, valued at approximately $341,000.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Borr Drilling by 28.0% in the second quarter. Bank of New York Mellon Corp now owns 827,121 shares of the company’s stock worth $5,335,000 after buying an additional 180,910 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Borr Drilling by 31.7% during the 3rd quarter. Private Advisor Group LLC now owns 33,443 shares of the company’s stock valued at $184,000 after acquiring an additional 8,054 shares during the period. Goehring & Rozencwajg Associates LLC grew its position in shares of Borr Drilling by 10.7% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 975,052 shares of the company’s stock valued at $6,289,000 after acquiring an additional 94,300 shares during the period. Intech Investment Management LLC bought a new position in Borr Drilling in the 3rd quarter worth $303,000. Finally, Renaissance Technologies LLC purchased a new position in Borr Drilling during the second quarter valued at $1,469,000. 83.12% of the stock is currently owned by institutional investors.

Borr Drilling Stock Performance

NYSE:BORR opened at $3.60 on Friday. Borr Drilling Limited has a 12-month low of $3.29 and a 12-month high of $7.61. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $909.30 million, a P/E ratio of 10.91 and a beta of 2.95. The stock has a 50-day moving average price of $4.11 and a 200 day moving average price of $5.41.

Borr Drilling (NYSE:BORR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). Borr Drilling had a net margin of 8.70% and a return on equity of 8.50%. The company had revenue of $241.60 million for the quarter.

Borr Drilling Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, November 29th. Borr Drilling’s dividend payout ratio (DPR) is presently 30.30%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI raised Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 price objective on the stock in a research note 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.