Borr Drilling (NYSE:BORR) Sets New 12-Month Low at $5.69

Borr Drilling Limited (NYSE:BORR)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $5.69 and last traded at $5.76, with a volume of 2398752 shares changing hands. The stock had previously closed at $5.85.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI dropped their price objective on shares of Borr Drilling from $10.00 to $9.00 and set an “in-line” rating on the stock in a research report on Friday, February 23rd.

Borr Drilling Stock Performance

The stock’s 50-day simple moving average is $6.34 and its 200 day simple moving average is $6.53. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $873.77 million, a PE ratio of 70.70 and a beta of 3.02.

Borr Drilling (NYSE:BORR) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Borr Drilling had a net margin of 2.86% and a return on equity of 2.38%. The company had revenue of $220.60 million for the quarter.

Borr Drilling Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a $0.05 dividend. This represents a $0.60 annualized dividend and a dividend yield of 10.47%. The ex-dividend date of this dividend was Friday, March 1st.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its stake in Borr Drilling by 111.6% during the 4th quarter. Quadrant Capital Group LLC now owns 4,472 shares of the company’s stock worth $33,000 after purchasing an additional 2,359 shares during the period. Tower Research Capital LLC TRC boosted its stake in Borr Drilling by 157.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 14,059 shares of the company’s stock worth $47,000 after purchasing an additional 8,591 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in Borr Drilling during the 2nd quarter worth $59,000. Principal Financial Group Inc. acquired a new stake in Borr Drilling during the 2nd quarter worth $62,000. Finally, JPMorgan Chase & Co. acquired a new stake in Borr Drilling during the 1st quarter worth $66,000. Institutional investors and hedge funds own 83.12% of the company’s stock.

About Borr Drilling

Borr Drilling Limited operates as an offshore 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.