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

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

Borr Drilling Stock Down 3.4 %

The company has a market capitalization of $536.74 million, a PE ratio of 6.64 and a beta of 2.69. The firm has a fifty day simple moving average of $3.22 and a 200-day simple moving average of $4.15. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41.

Borr Drilling (NYSE:BORR) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $247.78 million.

Borr Drilling Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, March 3rd. Borr Drilling’s dividend payout ratio is presently 31.25%.

Institutional Inflows and Outflows

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