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

Borr Drilling Limited (NYSE:BORR) shares reached 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 Up 2.9 %

The firm has a market capitalization of $774.16 million, a P/E ratio of 9.29 and a beta of 2.84. The firm’s 50-day moving average is $3.58 and its 200 day moving average is $4.53. 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:BORR) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). Borr Drilling had a return on equity of 8.50% and a net margin of 8.70%. The business had revenue of $263.10 million for the quarter, compared to the consensus estimate of $247.78 million.

Borr Drilling Dividend Announcement

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 dividend of $0.02 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.08 annualized dividend and a yield of 2.61%. Borr Drilling’s dividend payout ratio (DPR) is presently 31.25%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BORR. Sterling Capital Management LLC increased its stake in shares of Borr Drilling by 828.2% during the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company’s stock worth $30,000 after purchasing an additional 6,775 shares during the last quarter. Natixis acquired a new position in shares of Borr Drilling during the 4th quarter worth about $58,000. Salvus Wealth Management LLC acquired a new position in shares of Borr Drilling during the 4th quarter worth about $59,000. SBI Securities Co. Ltd. acquired a new position in shares of Borr Drilling during the 4th quarter worth about $59,000. Finally, CacheTech Inc. acquired a new position in shares of Borr Drilling during the 4th quarter worth about $81,000. 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.