Borr Drilling (NYSE:BORR) Hits New 52-Week Low – What’s Next?

Borr Drilling Limited (NYSE:BORR) reached a new 52-week low on Tuesday . The stock traded as low as $2.17 and last traded at $2.24, with a volume of 1964021 shares traded. The stock had previously closed at $2.29.

Borr Drilling Trading Up 2.8 %

The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $594.83 million, a P/E ratio of 7.36 and a beta of 2.69. The stock has a 50-day moving average price of $3.29 and a two-hundred day moving average price of $4.19.

Borr Drilling (NYSE:BORR) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share 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 company had revenue of $263.10 million during the quarter, compared to the consensus estimate of $247.78 million.

Borr Drilling Dividend Announcement

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 annualized dividend and a yield of 3.40%. Borr Drilling’s payout ratio is 31.25%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in Borr Drilling by 6.9% in the fourth quarter. SG Americas Securities LLC now owns 85,255 shares of the company’s stock worth $332,000 after purchasing an additional 5,500 shares during the period. X Square Capital LLC boosted its holdings in shares of Borr Drilling by 3.2% during the 4th quarter. X Square Capital LLC now owns 183,434 shares of the company’s stock valued at $715,000 after buying an additional 5,707 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Borr Drilling by 828.2% in the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company’s stock worth $30,000 after buying an additional 6,775 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Borr Drilling by 1.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,893 shares of the company’s stock worth $2,377,000 after acquiring an additional 7,682 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in Borr Drilling by 6.3% during the 4th quarter. MetLife Investment Management LLC now owns 146,500 shares of the company’s stock valued at $571,000 after acquiring an additional 8,698 shares during the period. 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.