Borr Drilling (NYSE:BORR) Reaches New 1-Year Low – Should You Sell?

Borr Drilling Limited (NYSE:BORR)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $2.47 and last traded at $2.50, with a volume of 826879 shares traded. The stock had previously closed at $2.52.

Borr Drilling Trading Down 1.1 %

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 stock has a market capitalization of $584.73 million, a price-to-earnings ratio of 7.23 and a beta of 2.69. The company’s 50-day moving average is $3.40 and its 200-day moving average is $4.30.

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

Borr Drilling Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be issued a $0.02 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.08 annualized dividend and a dividend yield of 3.46%. Borr Drilling’s dividend payout ratio is currently 31.25%.

Institutional Trading of Borr Drilling

Institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its position in shares of Borr Drilling by 828.2% during the fourth quarter. Sterling Capital Management LLC now owns 7,593 shares of the company’s stock worth $30,000 after buying an additional 6,775 shares during the period. SBI Securities Co. Ltd. purchased a new position in Borr Drilling during the 4th quarter valued at about $59,000. Salvus Wealth Management LLC purchased a new stake in shares of Borr Drilling in the 4th quarter valued at approximately $59,000. Natixis acquired a new stake in shares of Borr Drilling in the 4th quarter valued at $58,000. Finally, CacheTech Inc. acquired a new position in shares of Borr Drilling during the fourth quarter worth $81,000. Institutional investors and hedge funds own 83.12% of the company’s stock.

About Borr Drilling

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.