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 Monday . The stock traded as low as $2.47 and last traded at $2.50, with a volume of 826879 shares changing hands. The stock had previously closed at $2.52.

Borr Drilling Stock Performance

The stock’s 50 day moving average is $3.40 and its two-hundred day moving average is $4.30. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. The stock has a market cap of $584.73 million, a price-to-earnings ratio of 7.23 and a beta of 2.69.

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

Borr Drilling Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.02 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.08 dividend on an annualized basis and a yield of 3.46%. Borr Drilling’s payout ratio is currently 31.25%.

Institutional Trading of Borr Drilling

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised its holdings in Borr Drilling by 828.2% during the fourth quarter. Sterling Capital Management LLC now owns 7,593 shares of the company’s stock worth $30,000 after purchasing an additional 6,775 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Borr Drilling during the 4th quarter worth approximately $59,000. Salvus Wealth Management LLC purchased a new position in shares of Borr Drilling during the 4th quarter worth approximately $59,000. Natixis purchased a new stake in shares of Borr Drilling in the fourth quarter valued at approximately $58,000. Finally, CacheTech Inc. purchased a new stake in shares of Borr Drilling during the 4th quarter worth $81,000. 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.