Borr Drilling (NYSE:BORR) Stock Price Down 5.8% – Time to Sell?

Borr Drilling Limited (NYSE:BORR) dropped 5.8% during trading on Wednesday . The stock traded as low as $2.21 and last traded at $2.21. Approximately 4,150,814 shares traded hands during trading, an increase of 32% from the average daily volume of 3,142,432 shares. The stock had previously closed at $2.34.

Borr Drilling Stock Performance

The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a fifty day simple moving average of $3.26 and a two-hundred day simple moving average of $4.16. The firm has a market capitalization of $551.89 million, a P/E ratio of 6.83 and a beta of 2.69.

Borr Drilling (NYSE:BORR) last issued its earnings results on Wednesday, February 19th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%. The firm had revenue of $263.10 million during the quarter, compared to the consensus estimate of $247.78 million.

Borr Drilling Dividend Announcement

The business 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 dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 3.66%. The ex-dividend date is Monday, March 3rd. Borr Drilling’s dividend payout ratio (DPR) is presently 31.25%.

Institutional Trading of Borr Drilling

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in Borr Drilling by 6.9% during the fourth quarter. SG Americas Securities LLC now owns 85,255 shares of the company’s stock worth $332,000 after purchasing an additional 5,500 shares during the last quarter. X Square Capital LLC lifted its position 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 worth $715,000 after buying an additional 5,707 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of 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. grew its holdings in shares of Borr Drilling by 1.8% in the third quarter. JPMorgan Chase & Co. now owns 432,893 shares of the company’s stock valued at $2,377,000 after acquiring an additional 7,682 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of 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. 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.