Borr Drilling Limited (NYSE:BORR – Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 7,820,000 shares, a decrease of 6.8% from the March 15th total of 8,390,000 shares. Currently, 3.4% of the company’s stock are short sold. Based on an average daily volume of 2,110,000 shares, the short-interest ratio is presently 3.7 days.
Wall Street Analysts Forecast Growth
Separately, Evercore ISI decreased their price objective on shares of Borr Drilling from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Friday, February 23rd.
Check Out Our Latest Report on Borr Drilling
Borr Drilling Trading Up 1.6 %
Borr Drilling (NYSE:BORR – Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. Borr Drilling had a return on equity of 2.38% and a net margin of 2.86%. The firm had revenue of $220.60 million for the quarter.
Borr Drilling Dividend Announcement
The business also recently disclosed a monthly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.60 annualized dividend and a dividend yield of 10.47%.
Institutional Trading of Borr Drilling
Institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its holdings in shares of Borr Drilling by 111.6% in the 4th quarter. Quadrant Capital Group LLC now owns 4,472 shares of the company’s stock worth $33,000 after acquiring an additional 2,359 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Borr Drilling by 157.1% during the third quarter. Tower Research Capital LLC TRC now owns 14,059 shares of the company’s stock worth $47,000 after purchasing an additional 8,591 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Borr Drilling in the second quarter valued at $59,000. Principal Financial Group Inc. bought a new position in shares of Borr Drilling in the second quarter valued at about $62,000. Finally, JPMorgan Chase & Co. acquired a new position in Borr Drilling during the 1st quarter worth about $66,000. Institutional investors and hedge funds own 83.12% of the company’s stock.
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.
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