Borr Drilling Limited (NYSE:BORR - Get Free Report) shares were up 5.3% during trading on Tuesday . The stock traded as high as $2.32 and last traded at $2.31. Approximately 1,495,658 shares changed hands during trading, a decline of 73% from the average daily volume of 5,491,394 shares. The stock had previously closed at $2.19.
Borr Drilling Price Performance
The firm has a market capitalization of $418.83 million, a price-to-earnings ratio of 5.34 and a beta of 2.22. The company has a fifty day moving average price of $2.71 and a two-hundred day moving average price of $3.74. 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 announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%. The firm had revenue of $263.10 million during the quarter, compared to analysts' expectations of $247.78 million.
Borr Drilling Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, March 3rd. Borr Drilling's dividend payout ratio is presently 31.25%.
Institutional Trading of Borr Drilling
Several institutional investors have recently made changes to their positions in the stock. Encompass Capital Advisors LLC acquired a new position in Borr Drilling during the fourth quarter valued at approximately $10,718,000. Jane Street Group LLC increased its holdings in Borr Drilling by 842.5% during the 4th quarter. Jane Street Group LLC now owns 1,949,508 shares of the company's stock worth $7,603,000 after purchasing an additional 1,742,670 shares during the last quarter. Linden Advisors LP acquired a new position in shares of Borr Drilling in the 4th quarter valued at approximately $6,321,000. Renaissance Technologies LLC boosted its stake in Borr Drilling by 5,369.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,509,600 shares of the company's stock valued at $5,887,000 after acquiring an additional 1,482,000 shares during the last quarter. Finally, Lloyd Harbor Capital Management LLC bought a new stake in shares of Borr Drilling in the 4th quarter worth about $5,220,000. 83.12% of the stock is owned by hedge funds and other institutional investors.
About Borr Drilling
(
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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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