Borr Drilling Limited (NYSE:BORR) Short Interest Up 57.8% in December

Borr Drilling Limited (NYSE:BORR) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 24,140,000 shares, an increase of 57.8% from the December 15th total of 15,300,000 shares. Based on an average trading volume of 3,980,000 shares, the short-interest ratio is presently 6.1 days. Approximately 10.5% of the company’s shares are short sold.

Borr Drilling Trading Down 0.4 %

Shares of NYSE:BORR traded down $0.02 during mid-day trading on Friday, hitting $3.49. The stock had a trading volume of 3,922,488 shares, compared to its average volume of 4,609,684. The company’s 50 day moving average is $3.81 and its 200-day moving average is $5.08. Borr Drilling has a 12-month low of $3.29 and a 12-month high of $7.42. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $880.25 million, a PE ratio of 10.56 and a beta of 2.89.

Borr Drilling (NYSE:BORR) last issued its earnings results on Wednesday, November 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05). The business had revenue of $241.60 million during the quarter. Borr Drilling had a return on equity of 8.50% and a net margin of 8.70%.

Borr Drilling Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.02 per share. The ex-dividend date was Friday, November 29th. This represents a $0.08 annualized dividend and a yield of 2.30%. Borr Drilling’s dividend payout ratio (DPR) is presently 30.30%.

Institutional Trading of Borr Drilling

A number of hedge funds have recently made changes to their positions in BORR. Point72 DIFC Ltd purchased a new position in Borr Drilling during the second quarter valued at approximately $30,000. Salvus Wealth Management LLC purchased a new position in shares of Borr Drilling during the 4th quarter valued at $59,000. Ballentine Partners LLC acquired a new position in shares of Borr Drilling in the fourth quarter worth $83,000. Westend Capital Management LLC purchased a new stake in shares of Borr Drilling during the fourth quarter worth $86,000. Finally, Xponance Inc. boosted 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 during the last quarter. 83.12% of the stock is owned by hedge funds and other institutional investors.

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.