Borr Drilling (NYSE:BORR) Announces Quarterly Earnings Results

Borr Drilling (NYSE:BORR) issued its quarterly earnings results on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, reports. Borr Drilling had a return on equity of 2.38% and a net margin of 2.86%. The firm had revenue of $234.00 million for the quarter.

Borr Drilling Stock Performance

Shares of BORR stock opened at $6.85 on Friday. 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 cap 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 firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend is Monday, June 3rd. Borr Drilling’s dividend payout ratio (DPR) is presently 250.00%.

Institutional Trading of Borr Drilling

Hedge funds have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC acquired a new stake in Borr Drilling in the third quarter valued at $900,000. Barclays PLC lifted 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 worth $17,208,000 after purchasing an additional 981,153 shares during the last quarter. Kestra Advisory Services LLC grew its stake in Borr Drilling by 1,966.8% in the third quarter. Kestra Advisory Services LLC now owns 206,680 shares of the company’s stock worth $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% in the fourth quarter. Simplicity Solutions LLC now owns 87,027 shares of the company’s stock valued at $641,000 after buying an additional 9,896 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in Borr Drilling by 32.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 14,415 shares of the company’s stock valued at $102,000 after buying an additional 3,519 shares in the last quarter. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.