Shares of Borr Drilling Limited (NYSE:BORR - Get Free Report) dropped 4% during trading on Tuesday . The company traded as low as $2.30 and last traded at $2.30. Approximately 807,894 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 3,240,969 shares. The stock had previously closed at $2.39.
Borr Drilling Price Performance
The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. The firm has a market cap of $564.52 million, a price-to-earnings ratio of 6.98 and a beta of 2.69. The company's 50-day moving average is $2.85 and its 200-day moving average is $3.86.
Borr Drilling (NYSE:BORR - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%. The firm had revenue of $263.10 million during the quarter, compared to analyst estimates of $247.78 million.
Borr Drilling Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend was Monday, March 3rd. Borr Drilling's dividend payout ratio (DPR) is 31.25%.
Hedge Funds Weigh In On Borr Drilling
A number of hedge funds and other institutional investors have recently modified their holdings of BORR. Sterling Capital Management LLC lifted its position in shares of Borr Drilling by 828.2% during the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company's stock valued at $30,000 after buying an additional 6,775 shares during the last quarter. Natixis bought a new stake in shares of Borr Drilling during the 4th quarter worth $58,000. Salvus Wealth Management LLC purchased a new stake in shares of Borr Drilling in the 4th quarter valued at $59,000. SBI Securities Co. Ltd. purchased a new stake in shares of Borr Drilling during the fourth quarter valued at approximately $59,000. Finally, CacheTech Inc. bought a new position in Borr Drilling during 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
(
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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.
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