Huber Capital Management LLC Makes New $338,000 Investment in Borr Drilling Limited (NYSE:BORR)

Huber Capital Management LLC acquired a new stake in Borr Drilling Limited (NYSE:BORR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 86,788 shares of the company’s stock, valued at approximately $338,000.

Other institutional investors and hedge funds have also modified their holdings of the company. DnB Asset Management AS purchased a new position in Borr Drilling during the fourth quarter valued at approximately $136,000. X Square Capital LLC increased its holdings in Borr Drilling by 3.2% in the fourth quarter. X Square Capital LLC now owns 183,434 shares of the company’s stock valued at $715,000 after buying an additional 5,707 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Borr Drilling by 10.4% in the fourth quarter. JPMorgan Chase & Co. now owns 477,715 shares of the company’s stock worth $1,863,000 after acquiring an additional 44,822 shares during the period. Rovida Investment Management Ltd purchased a new stake in shares of Borr Drilling during the 4th quarter worth about $5,070,000. Finally, AXQ Capital LP acquired a new stake in shares of Borr Drilling during the 4th quarter valued at about $133,000. Institutional investors and hedge funds own 83.12% of the company’s stock.

Borr Drilling Stock Performance

NYSE BORR opened at $2.28 on Thursday. The stock has a market capitalization of $558.43 million, a price-to-earnings ratio of 7.13 and a beta of 2.69. The stock has a 50-day moving average of $2.78 and a 200 day moving average of $3.79. 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 Limited has a twelve month low of $2.08 and a twelve month high of $7.26.

Borr Drilling (NYSE:BORR) last announced its earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Borr Drilling had a return on equity of 8.27% and a net margin of 8.12%. The business had revenue of $263.10 million for the quarter, compared to analyst estimates of $247.78 million.

Borr Drilling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Monday, March 3rd. Borr Drilling’s dividend payout ratio is currently 31.25%.

About Borr Drilling

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.