Borr Drilling (NYSE:BORR) Stock Price Down 3.3% – Should You Sell?

Shares of Borr Drilling Limited (NYSE:BORR) fell 3.3% during trading on Wednesday . The company traded as low as $2.22 and last traded at $2.22. 169,080 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 3,294,362 shares. The stock had previously closed at $2.29.

Borr Drilling Stock Down 1.5 %

The company’s 50 day simple moving average is $2.80 and its 200-day simple moving average is $3.80. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $552.31 million, a PE ratio of 7.05 and a beta of 2.69.

Borr Drilling (NYSE:BORR) last posted its earnings results 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 return on equity of 8.27% and a net margin of 8.12%.

Borr Drilling Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a $0.02 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.08 dividend on an annualized basis and a yield of 3.55%. Borr Drilling’s dividend payout ratio is presently 31.25%.

Institutional Trading of Borr Drilling

Several institutional investors and hedge funds have recently made changes to their positions in BORR. SG Americas Securities LLC increased 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 valued at $332,000 after acquiring an additional 5,500 shares during the last quarter. X Square Capital LLC raised its holdings 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 lifted its position 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 last quarter. JPMorgan Chase & Co. boosted 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, MetLife Investment Management LLC grew its position in Borr Drilling by 6.3% during the fourth 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 last quarter. 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.