Borr Drilling Limited (NYSE:BORR) Short Interest Update

Borr Drilling Limited (NYSE:BORRGet Free Report) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 15,300,000 shares, an increase of 5.6% from the November 30th total of 14,490,000 shares. Based on an average daily volume of 3,520,000 shares, the short-interest ratio is presently 4.3 days. Approximately 6.5% of the shares of the stock are short sold.

Borr Drilling Trading Up 3.8 %

Shares of BORR opened at $4.05 on Friday. Borr Drilling has a fifty-two week low of $3.29 and a fifty-two week high of $7.47. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 12.27 and a beta of 2.95. The firm has a 50 day moving average price of $3.89 and a 200-day moving average price of $5.25. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41.

Borr Drilling (NYSE:BORRGet Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). The business had revenue of $241.60 million for 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 declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.02 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.08 dividend on an annualized basis and a yield of 1.98%. Borr Drilling’s dividend payout ratio (DPR) is currently 30.30%.

Institutional Trading of Borr Drilling

Several hedge funds and other institutional investors have recently bought and sold shares of BORR. Point72 DIFC Ltd purchased a new position in shares of Borr Drilling in the second quarter worth $30,000. Signaturefd LLC grew its holdings 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 acquiring an additional 6,839 shares during the last quarter. Xponance Inc. grew its holdings in Borr Drilling by 13.3% in the 2nd quarter. Xponance Inc. now owns 15,058 shares of the company’s stock worth $97,000 after acquiring an additional 1,767 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Borr Drilling in the second quarter valued at about $99,000. Finally, SCP Investment LP bought a new position in shares of Borr Drilling during the third quarter valued at about $158,000. Institutional investors own 83.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Evercore ISI upgraded Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 price objective on the stock in a research report on Friday, September 13th.

View Our Latest Stock Analysis on BORR

About Borr Drilling

(Get Free Report)

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.

Further Reading

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