Shares of Borr Drilling Limited (NYSE:BORR – Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $5.69 and last traded at $5.76, with a volume of 2398752 shares. The stock had previously closed at $5.85.
Wall Street Analyst Weigh In
Separately, Evercore ISI reduced their price objective on shares of Borr Drilling from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Friday, February 23rd.
View Our Latest Stock Report on Borr Drilling
Borr Drilling Stock Up 1.6 %
Borr Drilling (NYSE:BORR – Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The business had revenue of $220.60 million during the quarter. Borr Drilling had a net margin of 2.86% and a return on equity of 2.38%.
Borr Drilling Announces Dividend
The firm also recently declared 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 dividend on an annualized basis and a yield of 10.47%. The ex-dividend date of this dividend was Friday, March 1st.
Institutional Investors Weigh In On Borr Drilling
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ballentine Partners LLC acquired a new stake in Borr Drilling in the 1st quarter valued at about $88,000. Syquant Capital Sas acquired a new stake in Borr Drilling in the 1st quarter valued at about $188,000. Vanguard Group Inc. lifted its holdings in Borr Drilling by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 9,270,971 shares of the company’s stock valued at $68,234,000 after acquiring an additional 129,683 shares during the last quarter. Virtu Financial LLC acquired a new stake in Borr Drilling in the 4th quarter valued at about $202,000. Finally, FIL Ltd lifted its holdings in Borr Drilling by 312.2% in the 4th quarter. FIL Ltd now owns 5,191,241 shares of the company’s stock valued at $38,208,000 after acquiring an additional 3,931,841 shares during the last quarter. 83.12% of the stock is owned by institutional investors and hedge funds.
Borr Drilling Company Profile
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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