Borr Drilling Limited (NYSE:BORR – Get Free Report)’s share price reached a new 52-week low on Tuesday . The company traded as low as $5.09 and last traded at $5.13, with a volume of 912287 shares changing hands. The stock had previously closed at $5.29.
Wall Street Analysts Forecast Growth
Separately, Evercore ISI upgraded shares of Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 price objective for the company in a report on Friday, September 13th.
Read Our Latest Analysis on BORR
Borr Drilling Stock Performance
Borr Drilling (NYSE:BORR – Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $271.90 million during the quarter. Borr Drilling had a net margin of 8.15% and a return on equity of 7.69%.
Borr Drilling Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 22nd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.40 annualized dividend and a yield of 7.68%. Borr Drilling’s payout ratio is 58.82%.
Institutional Investors Weigh In On Borr Drilling
Several hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Borr Drilling in the fourth quarter valued at about $202,000. Ballentine Partners LLC acquired a new stake in shares of Borr Drilling during the 1st quarter worth approximately $88,000. Principal Financial Group Inc. increased its position in shares of Borr Drilling by 16.2% during the first quarter. Principal Financial Group Inc. now owns 29,567 shares of the company’s stock valued at $203,000 after purchasing an additional 4,125 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Borr Drilling in the first quarter valued at $468,000. Finally, GSA Capital Partners LLP boosted its stake in Borr Drilling by 17.9% during the first quarter. GSA Capital Partners LLP now owns 280,584 shares of the company’s stock worth $1,922,000 after buying an additional 42,650 shares in the last quarter. 83.12% of the stock is owned by 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.
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