Borr Drilling Limited (NYSE:BORR) Short Interest Update

Borr Drilling Limited (NYSE:BORR - Get Free Report) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 10,150,000 shares, a growth of 10.4% from the September 15th total of 9,190,000 shares. Approximately 4.3% of the shares of the company are sold short. Based on an average trading volume of 1,790,000 shares, the short-interest ratio is presently 5.7 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BORR. Xponance Inc. increased its stake in shares of Borr Drilling by 13.3% in 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. ProShare Advisors LLC increased its position in Borr Drilling by 8.5% in the first quarter. ProShare Advisors LLC now owns 39,513 shares of the company's stock worth $271,000 after buying an additional 3,110 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Borr Drilling by 4.5% in the first quarter. Bleakley Financial Group LLC now owns 90,901 shares of the company's stock worth $623,000 after buying an additional 3,874 shares during the period. Principal Financial Group Inc. lifted its position in shares of Borr Drilling by 16.2% during the 1st quarter. Principal Financial Group Inc. now owns 29,567 shares of the company's stock valued at $203,000 after buying an additional 4,125 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Borr Drilling by 6.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,363 shares of the company's stock valued at $454,000 after acquiring an additional 4,520 shares during the period. 83.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Evercore ISI upgraded 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 Performance

Shares of NYSE BORR traded down $0.19 during midday trading on Tuesday, hitting $5.10. 3,246,486 shares of the stock traded hands, compared to its average volume of 1,948,928. The firm has a market capitalization of $777.75 million, a P/E ratio of 30.00 and a beta of 2.99. Borr Drilling has a one year low of $5.09 and a one year high of $7.61. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a 50-day moving average of $5.77 and a two-hundred day moving average of $6.04.

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

Borr Drilling Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 7.84%. Borr Drilling's dividend payout ratio is currently 58.82%.

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.