Borr Drilling (NYSE:BORR) Hits New 1-Year Low at $5.40

Borr Drilling Limited (NYSE:BORR) shares hit a new 52-week low during trading on Monday . The stock traded as low as $5.40 and last traded at $5.43, with a volume of 1120749 shares changing hands. The stock had previously closed at $5.51.

Analysts Set New Price Targets

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

Borr Drilling Price Performance

The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $831.07 million, a price-to-earnings ratio of 68.88 and a beta of 3.02. The stock has a 50-day moving average price of $6.21 and a 200 day moving average price of $6.45.

Borr Drilling (NYSE:BORR) last posted its earnings results 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 return on equity of 2.38% and a net margin of 2.86%. The firm had revenue of $220.60 million for the quarter.

Borr Drilling Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were issued a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 11.01%. The ex-dividend date of this dividend was Friday, March 1st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BORR. Simplicity Wealth LLC acquired a new position in Borr Drilling in the first quarter valued at approximately $623,000. Ballentine Partners LLC acquired a new position in Borr Drilling in the first quarter valued at approximately $88,000. Syquant Capital Sas acquired a new position in Borr Drilling in the first quarter valued at approximately $188,000. Virtu Financial LLC acquired a new position in Borr Drilling in the fourth quarter valued at approximately $202,000. Finally, GeoSphere Capital Management LLC acquired a new position in Borr Drilling in the fourth quarter valued at approximately $5,152,000. 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.