Borr Drilling (NYSE:BORR) Reaches New 52-Week Low - Should You Sell?

Borr Drilling Limited (NYSE:BORR - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $5.05 and last traded at $5.13, with a volume of 842173 shares trading hands. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

Separately, Evercore ISI raised shares of Borr Drilling from an "in-line" rating to an "outperform" rating and set a $9.00 price target for the company in a research note on Friday, September 13th.

Borr Drilling Stock Down 1.9 %

The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.75. The stock has a 50 day simple moving average of $5.72 and a 200 day simple moving average of $6.01. The stock has a market cap of $773.18 million, a price-to-earnings ratio of 29.82 and a beta of 2.99.

Borr Drilling (NYSE:BORR - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $271.90 million during the quarter. Borr Drilling had a return on equity of 7.69% and a net margin of 8.15%.

Borr Drilling Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 22nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.40 annualized dividend and a yield of 7.89%. Borr Drilling's dividend payout ratio (DPR) is currently 58.82%.

Institutional Investors Weigh In On Borr Drilling

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital International Investors grew its stake in shares of Borr Drilling by 35.4% in the 1st quarter. Capital International Investors now owns 17,608,781 shares of the company's stock worth $116,834,000 after acquiring an additional 4,601,527 shares in the last quarter. Vanguard Group Inc. increased its stake in Borr Drilling by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 9,473,089 shares of the company's stock valued at $64,891,000 after buying an additional 202,118 shares during the last quarter. Capital International Inc. CA lifted its position in shares of Borr Drilling by 19.5% during the 1st quarter. Capital International Inc. CA now owns 2,646,820 shares of the company's stock worth $18,131,000 after buying an additional 431,861 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its position in shares of Borr Drilling by 10.7% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 975,052 shares of the company's stock worth $6,289,000 after buying an additional 94,300 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Borr Drilling by 28.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 827,121 shares of the company's stock worth $5,335,000 after buying an additional 180,910 shares during the last quarter. 83.12% of the stock is owned by hedge funds and other institutional investors.

About Borr Drilling

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.