Borr Drilling Limited (NYSE:BORR) Short Interest Update

Borr Drilling Limited (NYSE:BORR) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 10,150,000 shares, a growth of 10.4% from the September 15th total of 9,190,000 shares. Based on an average daily volume of 1,790,000 shares, the short-interest ratio is presently 5.7 days. Approximately 4.3% of the company’s shares are sold short.

Hedge Funds Weigh In On Borr Drilling

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new position in Borr Drilling in the second quarter worth approximately $30,000. Covestor Ltd grew its stake in shares of Borr Drilling by 31,600.0% during the first quarter. Covestor Ltd now owns 5,706 shares of the company’s stock worth $39,000 after purchasing an additional 5,688 shares in the last quarter. Signaturefd LLC increased its holdings in Borr Drilling by 666.6% in the second quarter. Signaturefd LLC now owns 7,865 shares of the company’s stock valued at $51,000 after buying an additional 6,839 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Borr Drilling in the first quarter valued at $88,000. Finally, SG Americas Securities LLC purchased a new stake in Borr Drilling during the 1st quarter worth about $89,000. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Analyst Ratings Changes

Separately, Evercore ISI raised Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 price objective for the company in a research note on Friday, September 13th.

Borr Drilling Stock Down 1.5 %

Shares of BORR opened at $5.29 on Tuesday. The company’s 50-day simple moving average is $5.77 and its 200-day simple moving average is $6.04. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.57 and a current ratio of 1.57. Borr Drilling has a 1 year low of $5.09 and a 1 year high of $7.61. The stock has a market capitalization of $806.73 million, a PE ratio of 31.12 and a beta of 2.99.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.12 EPS for the quarter. Borr Drilling had a net margin of 8.15% and a return on equity of 7.69%. The company had revenue of $271.90 million during the quarter.

Borr Drilling Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.40 annualized dividend and a yield of 7.56%. Borr Drilling’s dividend payout ratio (DPR) is 58.82%.

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.