Borr Drilling Limited (NYSE:BORR - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $3.74, but opened at $3.58. Borr Drilling shares last traded at $3.59, with a volume of 1,734,763 shares traded.
Analyst Ratings Changes
Separately, Evercore ISI upgraded shares of Borr Drilling from an "in-line" rating to an "outperform" rating and set a $9.00 price target on the stock in a report on Friday, September 13th.
Check Out Our Latest Research Report on Borr Drilling
Borr Drilling Stock Performance
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 business has a 50 day moving average of $3.96 and a 200 day moving average of $5.32. The company has a market capitalization of $909.30 million, a P/E 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). The business had revenue of $241.60 million during the quarter. Borr Drilling had a net margin of 8.70% and a return on equity of 8.50%.
Borr Drilling Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend 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
A number of institutional investors have recently made changes to their positions in BORR. JPMorgan Chase & Co. lifted its stake in shares of Borr Drilling by 1.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,893 shares of the company's stock valued at $2,377,000 after purchasing an additional 7,682 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Borr Drilling during the 3rd quarter valued at approximately $171,000. Barclays PLC lifted its position in Borr Drilling by 52.9% in the third quarter. Barclays PLC now owns 718,537 shares of the company's stock worth $3,944,000 after buying an additional 248,482 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Borr Drilling in the third quarter worth $341,000. Finally, XTX Topco Ltd bought a new position in Borr Drilling during the third quarter valued at $443,000. Institutional investors own 83.12% of the company's stock.
Borr Drilling Company Profile
(
Get Free Report)
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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