Borr Drilling (NYSE:BORR) Reaches New 12-Month Low – Here’s What Happened

Shares of Borr Drilling Limited (NYSE:BORR) reached a new 52-week low during trading on Thursday . The company traded as low as $3.26 and last traded at $3.28, with a volume of 2420638 shares changing hands. The stock had previously closed at $3.41.

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 company has a market capitalization of $882.77 million, a price-to-earnings ratio of 10.59 and a beta of 2.89. The firm’s fifty day simple moving average is $3.74 and its 200 day simple moving average is $4.96.

Borr Drilling (NYSE:BORR) last announced its earnings results on Wednesday, November 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). The firm had revenue of $241.60 million for the quarter. Borr Drilling had a net margin of 8.70% and a return on equity of 8.50%.

Borr Drilling Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.02 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.08 dividend on an annualized basis and a yield of 2.29%. Borr Drilling’s dividend payout ratio (DPR) is currently 30.30%.

Institutional Investors Weigh In On Borr Drilling

A number of hedge funds and other institutional investors have recently made changes to their positions in BORR. Barclays PLC boosted its stake in shares of Borr Drilling by 52.9% during the 3rd quarter. Barclays PLC now owns 718,537 shares of the company’s stock worth $3,944,000 after acquiring an additional 248,482 shares in the last quarter. Private Advisor Group LLC boosted its position in Borr Drilling by 31.7% during the third quarter. Private Advisor Group LLC now owns 33,443 shares of the company’s stock worth $184,000 after purchasing an additional 8,054 shares during the period. Intech Investment Management LLC acquired a new position in Borr Drilling during the third quarter valued at approximately $303,000. Renaissance Technologies LLC bought a new position in shares of Borr Drilling in the second quarter valued at approximately $1,469,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Borr Drilling by 40.4% during the 3rd quarter. SG Americas Securities LLC now owns 79,755 shares of the company’s stock worth $438,000 after buying an additional 22,943 shares during the period. 83.12% of the stock is owned by hedge funds and other institutional investors.

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.