Borr Drilling (NYSE:BORR) Shares Down 4% – Should You Sell?

Shares of Borr Drilling Limited (NYSE:BORR) traded down 4% during mid-day trading on Tuesday . The company traded as low as $2.30 and last traded at $2.30. 807,894 shares changed hands during trading, a decline of 75% from the average session volume of 3,240,969 shares. The stock had previously closed at $2.39.

Borr Drilling Stock Performance

The company has a market cap of $596.09 million, a P/E ratio of 7.38 and a beta of 2.69. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91. The company has a 50 day moving average price of $2.96 and a 200-day moving average price of $3.93.

Borr Drilling (NYSE:BORR) last announced its earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%. The company had revenue of $263.10 million during the quarter, compared to the consensus estimate of $247.78 million.

Borr Drilling Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Monday, March 3rd were issued a dividend of $0.02 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.08 annualized dividend and a yield of 3.39%. Borr Drilling’s payout ratio is 31.25%.

Hedge Funds Weigh In On Borr Drilling

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Borr Drilling by 52.9% in the third quarter. Barclays PLC now owns 718,537 shares of the company’s stock valued at $3,944,000 after buying an additional 248,482 shares during the period. Tejara Capital Ltd boosted its position in shares of Borr Drilling by 46.8% during the 4th quarter. Tejara Capital Ltd now owns 2,201,589 shares of the company’s stock valued at $8,418,000 after purchasing an additional 701,478 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Borr Drilling in the 4th quarter worth approximately $59,000. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 7,682 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Borr Drilling in the 3rd quarter worth approximately $303,000. 83.12% of the stock is owned by institutional investors.

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.