Borr Drilling (NYSE:BORR) Shares Gap Down to $6.85

Shares of Borr Drilling Limited (NYSE:BORRGet Free Report) gapped down prior to trading on Monday . The stock had previously closed at $6.85, but opened at $6.65. Borr Drilling shares last traded at $6.25, with a volume of 681,062 shares trading hands.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Report on BORR

Borr Drilling Stock Performance

The firm’s fifty day moving average price is $6.48 and its two-hundred day moving average price is $6.62. The stock has a market capitalization of $946.20 million, a PE ratio of 77.57 and a beta of 3.02. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.65.

Borr Drilling (NYSE:BORRGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Borr Drilling had a net margin of 2.86% and a return on equity of 2.38%. The business had revenue of $220.60 million during the quarter.

Borr Drilling Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were issued a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 9.67%. The ex-dividend date of this dividend was Friday, March 1st.

Institutional Investors Weigh In On Borr Drilling

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in Borr Drilling by 68.0% during the 3rd quarter. Barclays PLC now owns 2,423,679 shares of the company’s stock worth $17,208,000 after buying an additional 981,153 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Borr Drilling in the third quarter worth approximately $900,000. Kestra Advisory Services LLC increased its position in shares of Borr Drilling by 1,966.8% during 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. O Shaughnessy Asset Management LLC raised its stake in Borr Drilling by 32.3% in the 3rd quarter. O 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 during the last quarter. Finally, Tudor Investment Corp Et Al raised its stake in Borr Drilling by 15.2% in the 3rd quarter. Tudor Investment Corp Et Al now owns 389,183 shares of the company’s stock valued at $2,763,000 after purchasing an additional 51,418 shares during the last quarter. Institutional investors and hedge funds own 83.12% of the company’s stock.

About Borr Drilling

(Get Free Report)

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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