Borr Drilling (NYSE:BORR) Trading Up 5.3% – Still a Buy?

Shares of Borr Drilling Limited (NYSE:BORR) were up 5.3% during trading on Tuesday . The stock traded as high as $2.32 and last traded at $2.31. Approximately 1,495,658 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 5,491,394 shares. The stock had previously closed at $2.19.

Borr Drilling Stock Up 3.9 %

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $557.21 million, a price-to-earnings ratio of 7.11 and a beta of 2.69. The firm’s 50-day moving average price is $2.83 and its 200 day moving average price is $3.82.

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

Borr Drilling Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Monday, March 3rd. Borr Drilling’s dividend payout ratio (DPR) is presently 31.25%.

Institutional Trading of Borr Drilling

A number of hedge funds and other institutional investors have recently modified their holdings of BORR. Sterling Capital Management LLC boosted its stake in shares of Borr Drilling by 828.2% during the fourth quarter. Sterling Capital Management LLC now owns 7,593 shares of the company’s stock valued at $30,000 after purchasing an additional 6,775 shares in the last quarter. Natixis acquired a new position in Borr Drilling in the 4th quarter valued at approximately $58,000. Salvus Wealth Management LLC bought a new position in shares of Borr Drilling during the fourth quarter valued at $59,000. SBI Securities Co. Ltd. bought a new stake in shares of Borr Drilling in the fourth quarter worth $59,000. Finally, CacheTech Inc. acquired a new stake in Borr Drilling in the fourth quarter valued at $81,000. 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.