Short Interest in Borr Drilling Limited (NYSE:BORR) Rises By 57.8%

Borr Drilling Limited (NYSE:BORR) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 24,140,000 shares, a growth of 57.8% from the December 15th total of 15,300,000 shares. Currently, 10.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,980,000 shares, the days-to-cover ratio is currently 6.1 days.

Hedge Funds Weigh In On Borr Drilling

Large investors have recently made changes to their positions in the business. Xponance Inc. boosted its holdings in Borr Drilling by 13.3% during the second quarter. Xponance Inc. now owns 15,058 shares of the company’s stock worth $97,000 after buying an additional 1,767 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Borr Drilling during the 2nd quarter valued at $30,000. SG Americas Securities LLC boosted its stake in shares of Borr Drilling by 6.9% during the 4th quarter. SG Americas Securities LLC now owns 85,255 shares of the company’s stock worth $332,000 after acquiring an additional 5,500 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Borr Drilling by 1.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,893 shares of the company’s stock worth $2,377,000 after acquiring an additional 7,682 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Borr Drilling by 31.7% during the third quarter. Private Advisor Group LLC now owns 33,443 shares of the company’s stock worth $184,000 after purchasing an additional 8,054 shares during the period. Institutional investors own 83.12% of the company’s stock.

Borr Drilling Price Performance

Shares of NYSE:BORR traded down $0.02 during trading on Friday, reaching $3.49. The company had a trading volume of 3,922,488 shares, compared to its average volume of 4,609,684. Borr Drilling has a twelve month low of $3.29 and a twelve month high of $7.42. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $880.25 million, a PE ratio of 10.56 and a beta of 2.89. The firm’s fifty day moving average is $3.81 and its 200 day moving average is $5.08.

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

Borr Drilling Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Friday, November 29th. Borr Drilling’s payout ratio is 30.30%.

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.