Borr Drilling (NYSE:BORR) Sets New 52-Week Low – Here’s Why

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

Borr Drilling Price Performance

The firm has a market cap of $698.39 million, a PE ratio of 8.64 and a beta of 2.84. The firm has a fifty day simple moving average of $3.52 and a two-hundred day simple moving average of $4.44. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41.

Borr Drilling (NYSE:BORR) last announced its earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share (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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Monday, March 3rd. Borr Drilling’s payout ratio is currently 31.25%.

Institutional Trading of Borr Drilling

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its stake in 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 acquiring an additional 5,500 shares during the period. X Square Capital LLC increased its holdings in Borr Drilling by 3.2% during 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 during the period. Sterling Capital Management LLC increased its holdings in Borr Drilling by 828.2% during the fourth quarter. Sterling Capital Management LLC now owns 7,593 shares of the company’s stock valued at $30,000 after buying an additional 6,775 shares during the period. JPMorgan Chase & Co. raised its stake in Borr Drilling by 1.8% in the third quarter. JPMorgan Chase & Co. now owns 432,893 shares of the company’s stock worth $2,377,000 after buying an additional 7,682 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Borr Drilling by 31.7% during the third quarter. Private Advisor Group LLC now owns 33,443 shares of the company’s stock worth $184,000 after buying an additional 8,054 shares during the period. Hedge funds and other institutional investors own 83.12% of the company’s stock.

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.