Borr Drilling Limited (NYSE:BORR - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $2.28, but opened at $2.35. Borr Drilling shares last traded at $2.36, with a volume of 258,518 shares trading hands.
Borr Drilling Price Performance
The stock has a 50-day moving average price of $2.99 and a 200 day moving average price of $3.96. The firm has a market capitalization of $587.25 million, a PE ratio of 7.27 and a beta of 2.69. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91.
Borr Drilling (NYSE:BORR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company had revenue of $263.10 million during the quarter, compared to analyst estimates of $247.78 million. Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%.
Borr Drilling Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were given a dividend of $0.02 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.08 annualized dividend and a dividend yield of 3.44%. Borr Drilling's dividend payout ratio is presently 31.25%.
Hedge Funds Weigh In On Borr Drilling
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC lifted its stake in Borr Drilling by 828.2% in the fourth 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. SBI Securities Co. Ltd. acquired a new stake in shares of Borr Drilling during the 4th quarter valued at approximately $59,000. Salvus Wealth Management LLC acquired a new stake in Borr Drilling in the fourth quarter valued at $59,000. Natixis purchased a new stake in shares of Borr Drilling in the fourth quarter valued at about $58,000. Finally, CacheTech Inc. acquired a new stake in Borr Drilling during the 4th quarter valued at $81,000. 83.12% of the stock is owned by institutional investors and hedge funds.
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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