Borr Drilling Limited (NYSE:BORR) Short Interest Update

Borr Drilling Limited (NYSE:BORR - Get Free Report) was the recipient of a large decrease in short interest in February. As of February 15th, there was short interest totalling 18,250,000 shares, a decrease of 20.4% from the January 31st total of 22,920,000 shares. Based on an average daily trading volume, of 5,160,000 shares, the days-to-cover ratio is currently 3.5 days. Currently, 8.2% of the shares of the stock are short sold.

Borr Drilling Price Performance

NYSE:BORR traded up $0.14 during trading hours on Friday, reaching $2.41. 6,181,425 shares of the company traded hands, compared to its average volume of 3,107,694. Borr Drilling has a 1-year low of $2.18 and a 1-year high of $7.26. The stock has a market cap of $607.46 million, a P/E ratio of 7.52 and a beta of 2.69. The firm's 50-day moving average is $3.34 and its 200-day moving average is $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 - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.10 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 declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.33%. Borr Drilling's dividend payout ratio (DPR) is presently 31.25%.

Remove Ads

Hedge Funds Weigh In On Borr Drilling

Several institutional investors and hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC grew its stake in 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 acquiring an additional 6,775 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Borr Drilling during the fourth quarter worth $59,000. Salvus Wealth Management LLC purchased a new stake in shares of Borr Drilling in the fourth quarter valued at $59,000. Natixis acquired a new position in Borr Drilling in the fourth quarter valued at $58,000. Finally, CacheTech Inc. purchased a new position in Borr Drilling during the fourth quarter worth about $81,000. Hedge funds and other 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.