Borr Drilling (NYSE:BORR) Sets New 1-Year Low - Time to Sell?

Borr Drilling Limited (NYSE:BORR - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $3.03 and last traded at $3.06, with a volume of 1363999 shares trading hands. The stock had previously closed at $3.13.

Borr Drilling Price Performance

The company's 50 day simple moving average is $3.56 and its two-hundred day simple moving average is $4.50. 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 stock has a market capitalization of $743.85 million, a P/E ratio of 9.20 and a beta of 2.84.

Borr Drilling (NYSE:BORR - Get Free Report) last released its quarterly earnings results 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 return on equity of 8.27% and a net margin of 8.12%. The business had revenue of $263.10 million for the quarter, compared to the consensus estimate of $247.78 million.

Borr Drilling Announces Dividend

The firm also recently announced 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. 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 2.72%. Borr Drilling's dividend payout ratio (DPR) is presently 31.25%.

Institutional Investors Weigh In On Borr Drilling

A number of hedge funds have recently added to or reduced their stakes in BORR. Encompass Capital Advisors LLC acquired a new position in shares of Borr Drilling during the fourth quarter valued at $10,718,000. Jane Street Group LLC increased its holdings in shares of Borr Drilling by 842.5% in the fourth quarter. Jane Street Group LLC now owns 1,949,508 shares of the company's stock worth $7,603,000 after acquiring an additional 1,742,670 shares in the last quarter. Linden Advisors LP bought a new stake in shares of Borr Drilling in the fourth quarter worth about $6,321,000. Renaissance Technologies LLC raised its position in shares of Borr Drilling by 5,369.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,509,600 shares of the company's stock worth $5,887,000 after purchasing an additional 1,482,000 shares during the period. Finally, Lloyd Harbor Capital Management LLC bought a new position in shares of Borr Drilling during the 4th quarter valued at about $5,220,000. 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.