Salvus Wealth Management LLC Takes $59,000 Position in Borr Drilling Limited (NYSE:BORR)

Salvus Wealth Management LLC acquired a new stake in Borr Drilling Limited (NYSE:BORR) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 15,020 shares of the company’s stock, valued at approximately $59,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BORR. Rhumbline Advisers lifted its stake in shares of Borr Drilling by 24.4% in the 2nd quarter. Rhumbline Advisers now owns 371,945 shares of the company’s stock worth $2,399,000 after acquiring an additional 73,008 shares during the period. Renaissance Technologies LLC acquired a new stake in Borr Drilling in the second quarter valued at about $1,469,000. Goehring & Rozencwajg Associates LLC lifted its position in Borr Drilling by 10.7% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 975,052 shares of the company’s stock valued at $6,289,000 after purchasing an additional 94,300 shares during the period. Sei Investments Co. purchased a new stake in Borr Drilling in the 2nd quarter valued at approximately $99,000. Finally, Xponance Inc. increased its position in Borr Drilling by 13.3% during the 2nd quarter. Xponance Inc. now owns 15,058 shares of the company’s stock worth $97,000 after purchasing an additional 1,767 shares during the period. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

Borr Drilling Stock Performance

Shares of BORR stock opened at $3.51 on Friday. 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 50 day simple moving average of $3.82 and a 200-day simple moving average of $5.09. The company has a market cap of $885.29 million, a price-to-earnings ratio of 10.62 and a beta of 2.89. Borr Drilling Limited has a 12-month low of $3.29 and a 12-month high of $7.42.

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). The business had revenue of $241.60 million during the quarter. Borr Drilling had a return on equity of 8.50% and a net margin of 8.70%.

Borr Drilling Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Friday, November 29th. Borr Drilling’s dividend payout ratio (DPR) is 30.30%.

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.