Borr Drilling (NYSE:BORR) Trading Down 4.5% – Time to Sell?

Borr Drilling Limited (NYSE:BORR)’s stock price traded down 4.5% during mid-day trading on Thursday . The company traded as low as $3.64 and last traded at $3.65. 990,752 shares changed hands during trading, a decline of 75% from the average session volume of 3,892,933 shares. The stock had previously closed at $3.82.

Borr Drilling Trading Down 6.4 %

The company has a market cap of $902.97 million, a P/E ratio of 10.83 and a beta of 2.89. The business has a fifty day moving average price of $3.82 and a 200-day moving average price of $5.09. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). Borr Drilling had a return on equity of 8.50% and a net margin of 8.70%. The firm had revenue of $241.60 million for the quarter.

Borr Drilling Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.24%. Borr Drilling’s payout ratio is 30.30%.

Institutional Investors Weigh In On Borr Drilling

A number of hedge funds and other institutional investors have recently made changes to their positions in BORR. Rhumbline Advisers raised its position in shares of Borr Drilling by 24.4% in the second quarter. Rhumbline Advisers now owns 371,945 shares of the company’s stock valued at $2,399,000 after buying an additional 73,008 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Borr Drilling during the second quarter valued at approximately $1,469,000. Goehring & Rozencwajg Associates LLC raised its position in Borr Drilling by 10.7% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 975,052 shares of the company’s stock valued at $6,289,000 after purchasing an additional 94,300 shares in the last quarter. Sei Investments Co. acquired a new position in Borr Drilling during the second quarter valued at approximately $99,000. Finally, Xponance Inc. raised its position in Borr Drilling by 13.3% during the second quarter. Xponance Inc. now owns 15,058 shares of the company’s stock valued at $97,000 after purchasing an additional 1,767 shares in the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.

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.