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

Borr Drilling Limited (NYSE:BORR) shares hit a new 52-week low on Tuesday . The stock traded as low as $2.17 and last traded at $2.24, with a volume of 1964021 shares changing hands. The stock had previously closed at $2.29.

Borr Drilling Stock Performance

The company has a market capitalization of $594.83 million, a PE ratio of 7.36 and a beta of 2.69. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. The business’s fifty day moving average is $3.29 and its two-hundred day moving average is $4.19.

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). The business had revenue of $263.10 million for the quarter, compared to analysts’ expectations of $247.78 million. Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%.

Borr Drilling Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a dividend of $0.02 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.08 dividend on an annualized basis and a yield of 3.40%. Borr Drilling’s dividend payout ratio (DPR) is 31.25%.

Institutional Investors Weigh In On Borr Drilling

Large investors have recently added to or reduced their stakes in the stock. SCP Investment LP bought a new stake in shares of Borr Drilling during the 3rd quarter valued at about $158,000. Intech Investment Management LLC bought a new position in Borr Drilling in the third quarter worth approximately $303,000. Charles Schwab Investment Management Inc. raised its position in Borr Drilling by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 570,909 shares of the company’s stock worth $3,134,000 after acquiring an additional 9,976 shares during the period. FMR LLC boosted its stake in shares of Borr Drilling by 0.4% during the 3rd quarter. FMR LLC now owns 7,668,451 shares of the company’s stock worth $42,108,000 after acquiring an additional 28,587 shares during the last quarter. Finally, De Lisle Partners LLP grew its position in shares of Borr Drilling by 1.9% during the 3rd quarter. De Lisle Partners LLP now owns 1,571,424 shares of the company’s stock valued at $8,619,000 after acquiring an additional 30,000 shares during the period. 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.