Borr Drilling Limited (NYSE:BORR - Get Free Report) was up 7% during mid-day trading on Friday . The stock traded as high as $3.63 and last traded at $3.57. Approximately 1,553,721 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 4,649,396 shares. The stock had previously closed at $3.34.
Borr Drilling Stock Performance
The firm's 50-day moving average price is $3.74 and its 200 day moving average price is $4.96. The company has a market cap of $882.77 million, a price-to-earnings ratio of 10.59 and a beta of 2.89. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41.
Borr Drilling (NYSE:BORR - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05). Borr Drilling had a net margin of 8.70% and a return on equity of 8.50%. The business had revenue of $241.60 million for the quarter.
Borr Drilling Cuts Dividend
The business 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. The ex-dividend date was Friday, November 29th. This represents a $0.08 annualized dividend and a dividend yield of 2.29%. Borr Drilling's payout ratio is currently 30.30%.
Institutional Trading of Borr Drilling
A number of hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in Borr Drilling during the second quarter worth about $30,000. Salvus Wealth Management LLC bought a new position in shares of Borr Drilling during the 4th quarter valued at about $59,000. Ballentine Partners LLC bought a new position in shares of Borr Drilling during the 4th quarter valued at about $83,000. Westend Capital Management LLC acquired a new position in shares of Borr Drilling in the 4th quarter valued at approximately $86,000. Finally, Xponance Inc. increased its stake in Borr Drilling by 13.3% during the 2nd quarter. Xponance Inc. now owns 15,058 shares of the company's stock worth $97,000 after purchasing an additional 1,767 shares in the last quarter. 83.12% of the stock is currently 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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