Borr Drilling (NYSE:BORR) Sets New 12-Month Low – Time to Sell?

Borr Drilling Limited (NYSE:BORR)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $2.87 and last traded at $2.89, with a volume of 370962 shares. The stock had previously closed at $2.94.

Borr Drilling Stock Down 4.7 %

The company has a market capitalization of $698.39 million, a PE ratio of 8.64 and a beta of 2.84. 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 company’s 50-day moving average is $3.52 and its 200 day moving average is $4.44.

Borr Drilling (NYSE:BORR) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%. The business had revenue of $263.10 million for the quarter, compared to analysts’ expectations of $247.78 million.

Borr Drilling Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, March 3rd. Borr Drilling’s dividend payout ratio (DPR) is presently 31.25%.

Institutional Investors Weigh In On Borr Drilling

Hedge funds and other institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC lifted its stake in shares of Borr Drilling by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 66,765 shares of the company’s stock valued at $260,000 after buying an additional 21,967 shares in the last quarter. Millennium Management LLC bought a new stake in Borr Drilling during the fourth quarter valued at about $1,320,000. Linden Advisors LP purchased a new position in shares of Borr Drilling in the fourth quarter valued at about $6,321,000. Lighthouse Investment Partners LLC bought a new position in shares of Borr Drilling in the fourth quarter worth about $4,122,000. Finally, Lloyd Harbor Capital Management LLC purchased a new stake in shares of Borr Drilling during the fourth quarter worth about $5,220,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

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.