Borr Drilling (NYSE:BORR) Hits New 1-Year Low – Should You Sell?

Shares of Borr Drilling Limited (NYSE:BORR) reached a new 52-week low during trading on Monday . The company traded as low as $4.33 and last traded at $4.33, with a volume of 130645 shares traded. The stock had previously closed at $4.70.

Analyst Upgrades and Downgrades

Separately, Evercore ISI raised shares of Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 price objective on the stock in a research report on Friday, September 13th.

Borr Drilling Trading Down 8.5 %

The company has a market cap of $655.75 million, a P/E ratio of 27.65 and a beta of 2.99. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.75. The business has a fifty day moving average price of $5.55 and a 200-day moving average price of $5.97.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter. The firm had revenue of $271.90 million for the quarter. Borr Drilling had a return on equity of 7.69% and a net margin of 8.15%.

Borr Drilling Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 22nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.30%. The ex-dividend date of this dividend was Thursday, August 22nd. Borr Drilling’s dividend payout ratio is currently 58.82%.

Institutional Investors Weigh In On Borr Drilling

A number of large investors have recently added to or reduced their stakes in BORR. Capital International Investors grew its stake in Borr Drilling by 35.4% during the first quarter. Capital International Investors now owns 17,608,781 shares of the company’s stock worth $116,834,000 after buying an additional 4,601,527 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Borr Drilling by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 9,473,089 shares of the company’s stock worth $64,891,000 after acquiring an additional 202,118 shares in the last quarter. Capital International Inc. CA raised its position in Borr Drilling by 19.5% during the first quarter. Capital International Inc. CA now owns 2,646,820 shares of the company’s stock valued at $18,131,000 after purchasing an additional 431,861 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its stake in Borr Drilling by 10.7% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 975,052 shares of the company’s stock worth $6,289,000 after purchasing an additional 94,300 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Borr Drilling by 28.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 827,121 shares of the company’s stock valued at $5,335,000 after purchasing an additional 180,910 shares in the last quarter. Institutional investors and hedge funds 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.