Borr Drilling (NYSE:BORR) Sets New 1-Year Low – Time to Sell?

Borr Drilling Limited (NYSE:BORR) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $2.17 and last traded at $2.24, with a volume of 1964021 shares. The stock had previously closed at $2.29.

Borr Drilling Stock Down 3.4 %

The firm has a market capitalization of $536.74 million, a price-to-earnings ratio of 6.64 and a beta of 2.69. The business has a 50 day simple moving average of $3.22 and a 200-day simple moving average of $4.15. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41.

Borr Drilling (NYSE:BORR) last issued its earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $263.10 million during the quarter, compared to analyst estimates of $247.78 million. Borr Drilling had a return on equity of 8.27% and a net margin of 8.12%.

Borr Drilling Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, March 3rd. Borr Drilling’s payout ratio is 31.25%.

Hedge Funds Weigh In On Borr Drilling

Institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in shares of Borr Drilling by 828.2% in the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company’s stock valued at $30,000 after buying an additional 6,775 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Borr Drilling in the 4th quarter valued at about $59,000. Salvus Wealth Management LLC purchased a new position in shares of Borr Drilling in the 4th quarter valued at about $59,000. Natixis purchased a new position in shares of Borr Drilling in the 4th quarter valued at about $58,000. Finally, CacheTech Inc. purchased a new position in shares of Borr Drilling in the 4th quarter valued at about $81,000. 83.12% of the stock is 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.