X Square Capital LLC Boosts Holdings in Borr Drilling Limited (NYSE:BORR)

X Square Capital LLC raised its position in Borr Drilling Limited (NYSE:BORR) by 3.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 183,434 shares of the company’s stock after purchasing an additional 5,707 shares during the quarter. X Square Capital LLC’s holdings in Borr Drilling were worth $715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Salvus Wealth Management LLC bought a new position in shares of Borr Drilling in the fourth quarter worth approximately $59,000. SBI Securities Co. Ltd. bought a new stake in shares of Borr Drilling in the fourth quarter worth about $59,000. Ballentine Partners LLC purchased a new position in shares of Borr Drilling in the 4th quarter worth $83,000. Westend Capital Management LLC purchased a new stake in Borr Drilling during the 4th quarter valued at $86,000. Finally, Cibc World Markets Corp purchased a new position in shares of Borr Drilling during the fourth quarter valued at approximately $87,000. Institutional investors own 83.12% of the company’s stock.

Borr Drilling Stock Up 0.2 %

Shares of NYSE BORR opened at $2.39 on Friday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $602.41 million, a price-to-earnings ratio of 7.45 and a beta of 2.69. The stock has a 50 day moving average price of $2.88 and a 200 day moving average price of $3.88. Borr Drilling Limited has a 52-week low of $2.08 and a 52-week high of $7.26.

Borr Drilling (NYSE:BORR) last posted its earnings results on Wednesday, February 19th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company had revenue of $263.10 million for 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 company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Monday, March 3rd. Borr Drilling’s 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.