Borr Drilling (NYSE:BORR) reports quarterly results

Borr Drilling (NYSE:BORR – Get Free Report) released its quarterly earnings results on Thursday. As per the report, the company reported $0.06 earnings per share (EPS) for the quarter. Borr Drilling had a return on equity of 2.38% and a net margin of 2.86%. The company had revenue of $234.00 million during the quarter.

Borr drilling stock performance

BORR stock opened Friday at $6.85. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt to equity ratio of 1.65. The company has a market capitalization of $1.04 billion, a PE ratio of 85.63 and a beta of 3.06. The company’s fifty-day simple moving average is $5.98 and its 200-day simple moving average is $6.33. Borr Drilling has a 52-week low of $5.19 and a 52-week high of $9.01.

Borr Drilling Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Record investors will receive a dividend of $0.10 per share on Monday, June 3. This represents a dividend of $0.40 on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend is Monday, June 3. Borr Drilling’s Dividend Payout Ratio (DPR) is currently 250.00%.

Borr Drilling Institutional Trading

Hedge funds have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC acquired a new stake in Borr Drilling during the third quarter valued at $900,000. Barclays PLC increased its position in shares of Borr Drilling by 68.0% during the third quarter. Barclays PLC now owns 2,423,679 shares of the company’s stock valued at $17,208,000 after purchasing an additional 981,153 shares in the last quarter. Kestra Advisory Services LLC increased its holdings in Borr Drilling by 1,966.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 206,680 shares of the company’s stock valued at $1,467,000 after purchasing an additional 196,680 shares in the last quarter. Simplicity Solutions LLC increased its holdings in Borr Drilling by 12.8% during the 4th quarter. Simplicity Solutions LLC now owns 87,027 shares of the company’s stock valued at $641,000 after purchasing an additional 9,896 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Borr Drilling by 32.3% in the third quarter. About Shaughnessy Asset Management LLC now owns 14,415 shares of the company’s stock valued at $102,000 after purchasing an additional 3,519 shares in the last quarter. Hedge funds and other institutional investors hold 83.12% of the company’s shares.

Wall Street analysts predict growth

Separately, Evercore ISI lowered their target price on Borr Drilling from $10.00 to $9.00 and set an “in-line” rating for the stock in a report on Friday, February 23rd.

View our latest stock report on Borr drilling

Borr drilling company profile

(Get the free report)

Borr Drilling Limited operates as a shallow offshore drilling contractor for the oil and gas industry worldwide. The company owns, contracts and operates jack-up drilling rigs for shallow water operations, which includes providing related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.

Further reading

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