Borr Drilling (NYSE:BORR) Shares Down 5.4%

Shares of Borr Drilling Limited (NYSE:BORR) dropped 5.4% on Thursday . The stock traded as low as $5.41 and last traded at $5.42. Approximately 2,011,429 shares traded hands during trading, a decline of 5% from the average daily volume of 2,111,417 shares. The stock had previously closed at $5.73.

Analyst Upgrades and Downgrades

Separately, Evercore ISI dropped their target price 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 firm has a fifty day moving average of $6.34 and a two-hundred day moving average of $6.52. The company has a market capitalization of $840.22 million, a PE ratio of 71.63 and a beta of 3.02.

Borr Drilling (NYSE:BORR) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. Borr Drilling had a return on equity of 2.38% and a net margin of 2.86%. The business had revenue of $220.60 million during the quarter.

Borr Drilling Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were issued a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 10.89%. The ex-dividend date was Friday, March 1st.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC grew its holdings in Borr Drilling by 111.6% during the fourth quarter. Quadrant Capital Group LLC now owns 4,472 shares of the company’s stock valued at $33,000 after purchasing an additional 2,359 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Borr Drilling by 10.6% in the fourth quarter. Principal Financial Group Inc. now owns 25,442 shares of the company’s stock worth $187,000 after acquiring an additional 2,445 shares during the period. American International Group Inc. boosted its stake in shares of Borr Drilling by 2.9% in the fourth quarter. American International Group Inc. now owns 95,322 shares of the company’s stock worth $474,000 after acquiring an additional 2,710 shares during the period. Bank of America Corp DE boosted its stake in shares of Borr Drilling by 10.1% in the first quarter. Bank of America Corp DE now owns 34,167 shares of the company’s stock worth $259,000 after acquiring an additional 3,146 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Borr Drilling by 32.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 14,415 shares of the company’s stock worth $102,000 after acquiring an additional 3,519 shares during the period. Institutional investors own 83.12% of the company’s stock.

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.