Borr Drilling Limited (NYSE:BORR) Short Interest Update

Borr Drilling Limited (NYSE:BORR) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 11,570,000 shares, a decrease of 7.0% from the October 31st total of 12,440,000 shares. Approximately 4.9% of the shares of the stock are sold short. Based on an average daily volume of 2,950,000 shares, the short-interest ratio is presently 3.9 days.

Borr Drilling Trading Down 2.7 %

NYSE BORR traded down $0.10 during trading on Wednesday, reaching $3.56. 1,204,798 shares of the company traded hands, compared to its average volume of 2,247,474. Borr Drilling has a 1-year low of $3.56 and a 1-year high of $7.61. The stock’s 50 day moving average price is $4.58 and its two-hundred day moving average price is $5.66. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91.

Borr Drilling (NYSE:BORR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The firm had revenue of $241.60 million during the quarter. Borr Drilling had a net margin of 8.70% and a return on equity of 8.50%.

Borr Drilling Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.25%. Borr Drilling’s dividend payout ratio (DPR) is presently 30.30%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Borr Drilling

Several hedge funds have recently bought and sold shares of BORR. Xponance Inc. raised its position in Borr Drilling by 13.3% in the 2nd quarter. Xponance Inc. now owns 15,058 shares of the company’s stock valued at $97,000 after buying an additional 1,767 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Borr Drilling by 6.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,363 shares of the company’s stock worth $454,000 after purchasing an additional 4,520 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Borr Drilling during the second quarter worth $30,000. Signaturefd LLC grew its position in Borr Drilling by 666.6% in the second quarter. Signaturefd LLC now owns 7,865 shares of the company’s stock valued at $51,000 after purchasing an additional 6,839 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Borr Drilling by 14.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 62,807 shares of the company’s stock valued at $431,000 after buying an additional 7,979 shares during the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.

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.