Borr Drilling (NYSE:BORR) Trading Up 6.4% - What's Next?

Borr Drilling Limited (NYSE:BORR - Get Free Report)'s stock price shot up 6.4% during mid-day trading on Friday . The company traded as high as $2.42 and last traded at $2.42. 244,391 shares were traded during mid-day trading, a decline of 92% from the average session volume of 3,080,161 shares. The stock had previously closed at $2.27.

Borr Drilling Trading Up 2.8 %

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $594.83 million, a price-to-earnings ratio of 7.36 and a beta of 2.69. The business has a 50 day simple moving average of $3.26 and a 200-day simple moving average of $4.16.

Borr Drilling (NYSE:BORR - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Borr Drilling had a return on equity of 8.27% and a net margin of 8.12%. The company had revenue of $263.10 million during the quarter, compared to analyst estimates of $247.78 million.

Borr Drilling Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.02 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.40%. Borr Drilling's payout ratio is 31.25%.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BORR. Capital International Investors raised its holdings in shares of Borr Drilling by 0.5% in the 4th quarter. Capital International Investors now owns 18,780,294 shares of the company's stock worth $73,243,000 after purchasing an additional 88,412 shares during the period. FIL Ltd raised its holdings in Borr Drilling by 2.4% in the fourth quarter. FIL Ltd now owns 11,593,801 shares of the company's stock valued at $45,216,000 after buying an additional 267,791 shares during the period. FMR LLC lifted 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 buying an additional 28,587 shares in the last quarter. State Street Corp lifted its position in Borr Drilling by 0.6% during the third quarter. State Street Corp now owns 3,905,259 shares of the company's stock valued at $21,440,000 after buying an additional 22,800 shares in the last quarter. Finally, Capital International Inc. CA grew its stake in Borr Drilling by 1.2% during the fourth quarter. Capital International Inc. CA now owns 3,321,788 shares of the company's stock worth $12,955,000 after buying an additional 40,885 shares during the period. Institutional investors and hedge funds own 83.12% of the company's stock.

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.