Borr Drilling (NYSE:BORR) Reaches New 12-Month Low at $5.40

Borr Drilling Limited (NYSE:BORR - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $5.40 and last traded at $5.43, with a volume of 1120749 shares trading hands. The stock had previously closed at $5.51.

Analyst Upgrades and Downgrades

Separately, Evercore ISI dropped their price objective on shares of Borr Drilling from $10.00 to $9.00 and set an "in-line" rating on the stock in a research report on Friday, February 23rd.

Borr Drilling Price Performance

The stock has a market capitalization of $831.07 million, a price-to-earnings ratio of 68.13 and a beta of 3.02. The company's 50-day simple moving average is $6.19 and its 200-day simple moving average is $6.44. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.14 and a quick ratio of 1.14.

Borr Drilling (NYSE:BORR - Get Free Report) last released its quarterly earnings results 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. Borr Drilling had a return on equity of 2.38% and a net margin of 2.86%. The business had revenue of $220.60 million during the quarter.

Borr Drilling Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.01%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BORR. Capital International Investors increased its position in shares of Borr Drilling by 38.3% in the fourth quarter. Capital International Investors now owns 13,007,254 shares of the company's stock worth $96,318,000 after purchasing an additional 3,604,908 shares during the period. FMR LLC increased its holdings in Borr Drilling by 171.0% in the 3rd quarter. FMR LLC now owns 3,128,930 shares of the company's stock valued at $22,215,000 after buying an additional 1,974,249 shares during the period. Fiera Capital Corp acquired a new position in shares of Borr Drilling in the 3rd quarter valued at approximately $11,088,000. Barclays PLC lifted its holdings in shares of 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 acquiring an additional 981,153 shares during the period. Finally, GeoSphere Capital Management LLC acquired a new stake in shares of Borr Drilling during the 4th quarter worth approximately $5,152,000. 83.12% of the stock is owned by institutional investors.

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.