Borr Drilling (NYSE:BORR) Stock Price Down 3.7% - Time to Sell?

Borr Drilling Limited (NYSE:BORR - Get Free Report)'s stock price traded down 3.7% on Wednesday . The company traded as low as $3.50 and last traded at $3.50. 612,494 shares traded hands during trading, a decline of 86% from the average session volume of 4,491,565 shares. The stock had previously closed at $3.63.

Borr Drilling Stock Down 5.6 %

The company has a market capitalization of $865.09 million, a P/E ratio of 10.38 and a beta of 2.89. The firm's 50 day moving average price is $3.78 and its two-hundred day moving average price is $5.00. The company has a current ratio of 1.41, a quick 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 data on Wednesday, November 6th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.05). Borr Drilling had a return on equity of 8.50% and a net margin of 8.70%. The business had revenue of $241.60 million for the quarter.

Borr Drilling Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Friday, November 29th. Borr Drilling's payout ratio is presently 30.30%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BORR. FMR LLC raised its position in Borr Drilling by 0.4% during the third quarter. FMR LLC now owns 7,668,451 shares of the company's stock valued at $42,108,000 after purchasing an additional 28,587 shares in the last quarter. State Street Corp boosted its stake in shares of Borr Drilling by 0.6% in the 3rd quarter. State Street Corp now owns 3,905,259 shares of the company's stock valued at $21,440,000 after purchasing an additional 22,800 shares in the last quarter. De Lisle Partners LLP grew its holdings in shares of Borr Drilling by 1.9% during the 3rd quarter. De Lisle Partners LLP now owns 1,571,424 shares of the company's stock valued at $8,619,000 after purchasing an additional 30,000 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in Borr Drilling in the 3rd quarter valued at approximately $4,214,000. Finally, Barclays PLC boosted its position in Borr Drilling by 52.9% in the third quarter. Barclays PLC now owns 718,537 shares of the company's stock valued at $3,944,000 after buying an additional 248,482 shares in the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.

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.

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