Borr Drilling (NYSE:BORR) Reaches New 1-Year Low – Here’s Why

Borr Drilling Limited (NYSE:BORR)’s stock price hit 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 Price Performance

The stock has a market capitalization of $723.64 million, a price-to-earnings ratio of 8.96 and a beta of 2.84. The business has a 50-day simple moving average of $3.56 and a two-hundred day simple moving average of $4.48. 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 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). The firm had revenue of $263.10 million for the quarter, compared to the consensus estimate of $247.78 million. Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%.

Borr Drilling Dividend Announcement

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. The ex-dividend date is Monday, March 3rd. This represents a $0.08 annualized dividend and a dividend yield of 2.79%. Borr Drilling’s dividend payout ratio is currently 31.25%.

Institutional Trading of Borr Drilling

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its position in Borr Drilling by 828.2% in the fourth 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 last quarter. Natixis acquired a new stake in shares of Borr Drilling during the fourth quarter worth $58,000. Salvus Wealth Management LLC acquired a new stake in shares of Borr Drilling during the fourth quarter worth $59,000. SBI Securities Co. Ltd. purchased a new stake in shares of Borr Drilling during the fourth quarter valued at $59,000. Finally, CacheTech Inc. acquired a new position in shares of Borr Drilling in the 4th quarter valued at $81,000. 83.12% of the stock is owned by institutional investors and hedge funds.

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.