Borr Drilling (NYSE:BORR) Reaches New 12-Month Low – Should You Sell?

Borr Drilling Limited (NYSE:BORR)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $3.03 and last traded at $3.06, with a volume of 1363999 shares trading hands. The stock had previously closed at $3.13.

Borr Drilling Stock Performance

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’s 50-day simple moving average is $3.58 and its 200-day simple moving average is $4.53. The stock has a market capitalization of $774.16 million, a price-to-earnings ratio of 9.29 and a beta of 2.84.

Borr Drilling (NYSE:BORR) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Borr Drilling had a net margin of 8.70% and a return on equity of 8.50%. The business had revenue of $263.10 million during the quarter, compared to analyst estimates of $247.78 million.

Borr Drilling Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 2.61%. The ex-dividend date is Monday, March 3rd. Borr Drilling’s dividend payout ratio (DPR) is currently 31.25%.

Institutional Investors Weigh In On Borr Drilling

Large investors have recently modified their holdings of the company. Encompass Capital Advisors LLC acquired a new stake in shares of Borr Drilling in the 4th quarter valued at about $10,718,000. Jane Street Group LLC boosted its holdings in Borr Drilling by 842.5% in the fourth quarter. Jane Street Group LLC now owns 1,949,508 shares of the company’s stock worth $7,603,000 after acquiring an additional 1,742,670 shares in the last quarter. Linden Advisors LP bought a new position in Borr Drilling in the fourth quarter worth approximately $6,321,000. Renaissance Technologies LLC boosted its holdings in Borr Drilling by 5,369.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,509,600 shares of the company’s stock worth $5,887,000 after acquiring an additional 1,482,000 shares in the last quarter. Finally, Lloyd Harbor Capital Management LLC bought a new position in Borr Drilling in the fourth quarter worth approximately $5,220,000. 83.12% of the stock is currently owned by institutional investors and hedge funds.

About Borr Drilling

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.