Borr Drilling (NYSE:BORR) Shares Gap Up to $5.98

Borr Drilling Limited (NYSE:BORR) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.98, but opened at $6.14. Borr Drilling shares last traded at $6.11, with a volume of 94,843 shares traded.

Borr Drilling Stock Up 0.5 %

The company has a market cap of $931.78 million, a P/E ratio of 35.76 and a beta of 3.07. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a fifty day moving average price of $6.38 and a 200 day moving average price of $6.26.

Borr Drilling (NYSE:BORR) last announced its earnings results on Thursday, May 23rd. The company reported $0.06 earnings per share for the quarter. Borr Drilling had a net margin of 5.27% and a return on equity of 4.62%. The company had revenue of $234.00 million during the quarter.

Borr Drilling Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.55%. Borr Drilling’s payout ratio is currently 58.82%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Borr Drilling by 29.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,843 shares of the company’s stock valued at $485,000 after acquiring an additional 15,073 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Borr Drilling by 4.9% in the fourth quarter. New York State Common Retirement Fund now owns 88,400 shares of the company’s stock valued at $651,000 after buying an additional 4,106 shares during the period. Quadrant Capital Group LLC lifted its stake in Borr Drilling by 111.6% in the fourth quarter. Quadrant Capital Group LLC now owns 4,472 shares of the company’s stock valued at $33,000 after buying an additional 2,359 shares during the period. Fiera Capital Corp boosted its holdings in Borr Drilling by 61.0% during the fourth quarter. Fiera Capital Corp now owns 2,513,733 shares of the company’s stock worth $18,501,000 after buying an additional 952,030 shares during the last quarter. Finally, Trexquant Investment LP grew its position in shares of Borr Drilling by 41.1% during the 4th quarter. Trexquant Investment LP now owns 102,343 shares of the company’s stock worth $753,000 after buying an additional 29,802 shares during the period. Institutional investors 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.