Borr Drilling (NYSE:BORR) Reaches New 12-Month Low – Should You Sell?

Borr Drilling Limited (NYSE:BORR) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.22 and last traded at $3.40, with a volume of 6064796 shares traded. The stock had previously closed at $3.36.

Borr Drilling Stock Performance

The firm has a market capitalization of $865.09 million, a price-to-earnings ratio of 10.38 and a beta of 2.89. 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 firm’s fifty day moving average is $3.70 and its 200 day moving average is $4.88.

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

Borr Drilling Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.02 per share. The ex-dividend date was Friday, November 29th. This represents a $0.08 annualized dividend and a dividend yield of 2.34%. Borr Drilling’s dividend payout ratio is 30.30%.

Hedge Funds Weigh In On Borr Drilling

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position in Borr Drilling by 0.4% in the third quarter. FMR LLC now owns 7,668,451 shares of the company’s stock worth $42,108,000 after acquiring an additional 28,587 shares in the last quarter. State Street Corp lifted its stake in shares of Borr Drilling by 0.6% in the 3rd quarter. State Street Corp now owns 3,905,259 shares of the company’s stock valued at $21,440,000 after purchasing an additional 22,800 shares during the last quarter. De Lisle Partners LLP boosted its holdings in Borr Drilling by 1.9% in the third quarter. De Lisle Partners LLP now owns 1,571,424 shares of the company’s stock worth $8,619,000 after purchasing an additional 30,000 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new position in Borr Drilling during the third quarter worth $4,214,000. Finally, Barclays PLC raised its holdings in Borr Drilling by 52.9% during the third quarter. Barclays PLC now owns 718,537 shares of the company’s stock valued at $3,944,000 after buying an additional 248,482 shares in the last quarter. Institutional investors and hedge funds 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.