Borr Drilling (NYSE:BORR) Reaches New 52-Week Low – Time to Sell?

Borr Drilling Limited (NYSE:BORR)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.26 and last traded at $3.28, with a volume of 2420638 shares. The stock had previously closed at $3.41.

Borr Drilling Price Performance

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91. The stock’s 50-day moving average price is $3.74 and its 200 day moving average price is $4.96. The firm has a market cap of $882.77 million, a price-to-earnings ratio of 10.59 and a beta of 2.89.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.04 earnings per share 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 during the quarter.

Borr Drilling Cuts Dividend

The company 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 yield of 2.29%. The ex-dividend date of this dividend was Friday, November 29th. Borr Drilling’s dividend payout ratio is 30.30%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BORR. HITE Hedge Asset Management LLC acquired a new position in shares of Borr Drilling in the 3rd quarter valued at $4,214,000. Cubist Systematic Strategies LLC acquired a new position in Borr Drilling in the second quarter valued at about $1,954,000. Barclays PLC increased its holdings in shares of Borr Drilling by 52.9% in the third quarter. Barclays PLC now owns 718,537 shares of the company’s stock worth $3,944,000 after acquiring an additional 248,482 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Borr Drilling during the second quarter worth about $1,469,000. Finally, XTX Topco Ltd bought a new position in shares of Borr Drilling during the 3rd quarter valued at about $443,000. Institutional investors own 83.12% of the company’s stock.

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.