Borr Drilling (NYSE:BORR) Shares Down 5.8% – What’s Next?

Shares of Borr Drilling Limited (NYSE:BORR) traded down 5.8% during trading on Wednesday . The stock traded as low as $2.21 and last traded at $2.21. 4,150,814 shares traded hands during mid-day trading, an increase of 32% from the average session volume of 3,142,432 shares. The stock had previously closed at $2.34.

Borr Drilling Trading Down 6.6 %

The firm’s 50-day simple moving average is $3.26 and its 200 day simple moving average is $4.16. The firm has a market cap of $551.89 million, a P/E ratio of 6.83 and a beta of 2.69. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91.

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

Borr Drilling Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.02 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.08 annualized dividend and a dividend yield of 3.66%. Borr Drilling’s payout ratio is 31.25%.

Institutional Investors Weigh In On Borr Drilling

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its stake in shares of Borr Drilling by 6.9% in the fourth quarter. SG Americas Securities LLC now owns 85,255 shares of the company’s stock worth $332,000 after purchasing an additional 5,500 shares in the last quarter. X Square Capital LLC lifted its stake in shares of Borr Drilling by 3.2% during the 4th 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. Sterling Capital Management LLC boosted its holdings in Borr Drilling by 828.2% in the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company’s stock worth $30,000 after buying an additional 6,775 shares during the period. JPMorgan Chase & Co. grew its stake in Borr Drilling by 1.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,893 shares of the company’s stock valued at $2,377,000 after buying an additional 7,682 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Borr Drilling by 6.3% during the 4th quarter. MetLife Investment Management LLC now owns 146,500 shares of the company’s stock valued at $571,000 after acquiring an additional 8,698 shares during the period. 83.12% of the stock is 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.