Borr Drilling (NYSE:BORR) Trading Up 6.4% – What’s Next?

Shares of Borr Drilling Limited (NYSE:BORR) shot up 6.4% on Friday . The company traded as high as $2.42 and last traded at $2.42. 244,391 shares traded hands during trading, a decline of 92% from the average session volume of 3,080,161 shares. The stock had previously closed at $2.27.

Borr Drilling Trading Up 4.6 %

The firm has a market cap of $599.88 million, a P/E ratio of 7.39 and a beta of 2.69. The firm has a fifty day simple moving average of $3.34 and a 200-day simple moving average of $4.27. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41.

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

Borr Drilling Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Monday, March 3rd. Borr Drilling’s dividend payout ratio is presently 31.25%.

Institutional Investors Weigh In On Borr Drilling

Several large investors have recently added to or reduced their stakes in BORR. Private Advisor Group LLC raised its position in shares of Borr Drilling by 31.7% during the 3rd quarter. Private Advisor Group LLC now owns 33,443 shares of the company’s stock valued at $184,000 after buying an additional 8,054 shares in the last quarter. SCP Investment LP bought a new stake in Borr Drilling in the third quarter valued at approximately $158,000. Intech Investment Management LLC purchased a new stake in Borr Drilling during the 3rd quarter valued at $303,000. Charles Schwab Investment Management Inc. grew its position in shares of Borr Drilling by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 570,909 shares of the company’s stock worth $3,134,000 after buying an additional 9,976 shares during the last quarter. Finally, FMR LLC grew its position in shares of Borr Drilling by 0.4% in the 3rd quarter. FMR LLC now owns 7,668,451 shares of the company’s stock worth $42,108,000 after buying an additional 28,587 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.