Borr Drilling (NYSE:BORR) Shares Down 4.2%

Shares of Borr Drilling Limited (NYSE:BORR) traded down 4.2% on Tuesday . The company traded as low as $5.20 and last traded at $5.20. 198,099 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,962,333 shares. The stock had previously closed at $5.43.

Borr Drilling Price Performance

The company has a market cap of $785.38 million, a P/E ratio of 30.06 and a beta of 3.00. The firm’s 50-day moving average is $6.30 and its two-hundred day moving average is $6.22. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.57 and a quick ratio of 1.57.

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

Borr Drilling Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Thursday, August 22nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.77%. The ex-dividend date of this dividend is Thursday, August 22nd. Borr Drilling’s dividend payout ratio (DPR) is 58.82%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BORR. Point72 DIFC Ltd bought a new position in shares of Borr Drilling during the second quarter valued at approximately $30,000. Quadrant Capital Group LLC boosted its stake in shares of 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. Covestor Ltd grew its holdings in shares of Borr Drilling by 31,600.0% in the first quarter. Covestor Ltd now owns 5,706 shares of the company’s stock worth $39,000 after purchasing an additional 5,688 shares during the last quarter. Signaturefd LLC increased its stake in Borr Drilling by 666.6% in the 2nd quarter. Signaturefd LLC now owns 7,865 shares of the company’s stock worth $51,000 after buying an additional 6,839 shares during the period. Finally, Ballentine Partners LLC bought a new stake in Borr Drilling during the 1st quarter valued at about $88,000. 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.