Borr Drilling (NYSE:BORR) Shares Down 5.4%

Borr Drilling Limited (NYSE:BORR)’s stock price fell 5.4% during mid-day trading on Thursday . The company traded as low as $5.41 and last traded at $5.42. 2,011,429 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 2,111,417 shares. The stock had previously closed at $5.73.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI reduced their price target on Borr Drilling from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Friday, February 23rd.

Borr Drilling Stock Performance

The firm has a market capitalization of $840.98 million, a PE ratio of 68.95 and a beta of 3.02. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.65. The company’s 50-day simple moving average is $6.31 and its 200 day simple moving average is $6.50.

Borr Drilling (NYSE:BORR) last posted its earnings results on Thursday, February 22nd. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $220.60 million during the quarter. Borr Drilling had a net margin of 2.86% and a return on equity of 2.38%.

Borr Drilling Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.60 dividend on an annualized basis and a yield of 10.88%.

Institutional Trading of Borr Drilling

Large investors have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its stake in shares of Borr Drilling by 111.6% in the 4th 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. Tower Research Capital LLC TRC boosted its position in Borr Drilling by 157.1% during the third quarter. Tower Research Capital LLC TRC now owns 14,059 shares of the company’s stock worth $47,000 after purchasing an additional 8,591 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Borr Drilling in the second quarter valued at approximately $59,000. Principal Financial Group Inc. acquired a new stake in Borr Drilling in the second quarter valued at approximately $62,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Borr Drilling in the first quarter valued at approximately $66,000. 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.