Borr Drilling Limited (NYSE:BORR - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $3.66, but opened at $3.52. Borr Drilling shares last traded at $3.56, with a volume of 837,024 shares.
Wall Street Analysts Forecast Growth
Separately, Evercore ISI upgraded 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.
View Our Latest Stock Report on BORR
Borr Drilling Trading Down 1.6 %
The firm has a 50-day simple moving average of $4.14 and a 200-day simple moving average of $5.43. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91. The stock has a market cap of $549 million, a PE ratio of 10.91 and a beta of 2.95.
Borr Drilling (NYSE:BORR - Get Free Report) last posted its 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 net margin of 8.70% and a return on equity of 8.50%. The company had revenue of $241.60 million for the quarter.
Borr Drilling Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 2.22%. The ex-dividend date was Friday, November 29th. Borr Drilling's dividend payout ratio is 30.30%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. HITE Hedge Asset Management LLC bought a new position in Borr Drilling in the third quarter valued at $4,214,000. Cubist Systematic Strategies LLC purchased a new position in shares of Borr Drilling in the 2nd quarter worth about $1,954,000. Barclays PLC increased its position in shares of Borr Drilling by 52.9% during the 3rd quarter. Barclays PLC now owns 718,537 shares of the company's stock valued at $3,944,000 after purchasing an additional 248,482 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Borr Drilling during the 2nd quarter valued at about $1,469,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Borr Drilling by 28.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 827,121 shares of the company's stock valued at $5,335,000 after buying an additional 180,910 shares in the last quarter. 83.12% of the stock is currently owned by institutional investors.
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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