Borr Drilling Limited (NYSE:BORR) Short Interest Update

Borr Drilling Limited (NYSE:BORR - Get Free Report) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 15,300,000 shares, an increase of 5.6% from the November 30th total of 14,490,000 shares. Approximately 6.5% of the company's stock are sold short. Based on an average daily trading volume, of 3,520,000 shares, the short-interest ratio is presently 4.3 days.

Borr Drilling Stock Up 4.8 %

Borr Drilling stock traded up $0.18 during trading hours on Wednesday, hitting $3.90. The company had a trading volume of 4,362,201 shares, compared to its average volume of 2,423,770. Borr Drilling has a fifty-two week low of $3.29 and a fifty-two week high of $7.47. 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 has a market capitalization of $985.07 million, a P/E ratio of 11.82 and a beta of 2.95. The firm's fifty day moving average is $3.92 and its 200-day moving average is $5.26.

Borr Drilling (NYSE:BORR - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.05). Borr Drilling had a return on equity of 8.50% and a net margin of 8.70%. The company had revenue of $241.60 million during 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 paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Friday, November 29th. Borr Drilling's dividend payout ratio (DPR) is presently 30.30%.

Institutional Investors Weigh In On Borr Drilling

Several institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in Borr Drilling by 0.4% during the third quarter. FMR LLC now owns 7,668,451 shares of the company's stock valued at $42,108,000 after acquiring an additional 28,587 shares in the last quarter. State Street Corp increased its stake in shares of Borr Drilling by 0.6% during the 3rd quarter. State Street Corp now owns 3,905,259 shares of the company's stock worth $21,440,000 after purchasing an additional 22,800 shares during the last quarter. De Lisle Partners LLP raised its holdings in shares of Borr Drilling by 1.9% during the 3rd quarter. De Lisle Partners LLP now owns 1,571,424 shares of the company's stock valued at $8,619,000 after purchasing an additional 30,000 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its stake in shares of Borr Drilling by 10.7% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 975,052 shares of the company's stock valued at $6,289,000 after purchasing an additional 94,300 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Borr Drilling by 28.0% in the second quarter. Bank of New York Mellon Corp now owns 827,121 shares of the company's stock worth $5,335,000 after purchasing an additional 180,910 shares in the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Evercore ISI raised Borr Drilling from an "in-line" rating to an "outperform" rating and set a $9.00 target price on the stock in a research note on Friday, September 13th.

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.