Borr Drilling (NYSE:BORR) Hits New 1-Year Low - Here's Why

Borr Drilling Limited (NYSE:BORR - Get Free Report) shares reached a new 52-week low during trading on Monday . The company traded as low as $4.33 and last traded at $4.33, with a volume of 130645 shares. The stock had previously closed at $4.70.

Wall Street Analyst Weigh In

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

Borr Drilling Trading Down 5.4 %

The business's 50 day simple moving average is $5.51 and its 200 day simple moving average is $5.96. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $677.86 million, a price-to-earnings ratio of 26.15 and a beta of 2.99.

Borr Drilling (NYSE:BORR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter. The company 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 9.00%. Borr Drilling's payout ratio is currently 58.82%.

Institutional Inflows and Outflows

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

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.