Borr Drilling (NYSE:BORR) Reaches New 1-Year Low – Time to Sell?

Borr Drilling Limited (NYSE:BORR)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $5.05 and last traded at $5.13, with a volume of 842173 shares. The stock had previously closed at $5.17.

Analyst Ratings Changes

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

Borr Drilling Stock Down 0.8 %

The firm has a market capitalization of $716.75 million, a PE ratio of 27.91 and a beta of 2.99. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.75. The business has a 50-day moving average price of $5.66 and a 200-day moving average price of $6.00.

Borr Drilling (NYSE:BORR) last issued its earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $271.90 million during the quarter. Borr Drilling had a return on equity of 7.69% and a net margin of 8.15%.

Borr Drilling Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 22nd were paid a $0.10 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.40 annualized dividend and a dividend yield of 8.51%. Borr Drilling’s dividend payout ratio (DPR) is 58.82%.

Hedge Funds Weigh In On Borr Drilling

Several large investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new stake in Borr Drilling in the 2nd quarter valued at about $30,000. Covestor Ltd raised its stake in shares of Borr Drilling by 31,600.0% in the 1st quarter. Covestor Ltd now owns 5,706 shares of the company’s stock valued at $39,000 after acquiring an additional 5,688 shares during the period. Signaturefd LLC lifted its holdings in shares of 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. Ballentine Partners LLC purchased a new position in shares of Borr Drilling during the 1st quarter worth approximately $88,000. Finally, SG Americas Securities LLC acquired a new stake in Borr Drilling in the 1st quarter valued at approximately $89,000. Institutional investors and hedge funds own 83.12% of the company’s stock.

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.