Borr Drilling (NYSE:BORR – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.22, reports. The firm had revenue of $191.50 million during the quarter. Borr Drilling had a negative net margin of 13.44% and a negative return on equity of 8.33%.
Borr Drilling Price Performance
BORR stock opened at $6.21 on Friday. The firm has a 50 day moving average of $6.73 and a 200-day moving average of $7.19. Borr Drilling has a 12-month low of $4.03 and a 12-month high of $9.01. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.70. The company has a market cap of $946.20 million, a price-to-earnings ratio of -14.77 and a beta of 3.21.
Institutional Investors Weigh In On Borr Drilling
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. lifted its position in shares of Borr Drilling by 2.9% during the 4th quarter. American International Group Inc. now owns 95,322 shares of the company’s stock valued at $474,000 after acquiring an additional 2,710 shares during the period. Bank of America Corp DE lifted its position in shares of Borr Drilling by 10.1% during the 1st quarter. Bank of America Corp DE now owns 34,167 shares of the company’s stock valued at $259,000 after acquiring an additional 3,146 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Borr Drilling by 23.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 18,905 shares of the company’s stock worth $142,000 after purchasing an additional 3,610 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Borr Drilling by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,854 shares of the company’s stock worth $295,000 after purchasing an additional 3,695 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Borr Drilling by 26.4% during the 1st quarter. Principal Financial Group Inc. now owns 22,596 shares of the company’s stock worth $171,000 after purchasing an additional 4,719 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.
About Borr Drilling
Borr Drilling Limited operates as an offshore 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.
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