Borr Drilling (NYSE:BORR) Stock Price Down 5.4%

Borr Drilling Limited (NYSE:BORR - Get Free Report) shares were down 5.4% during trading on Thursday . The stock traded as low as $5.41 and last traded at $5.42. Approximately 2,011,429 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 2,111,417 shares. The stock had previously closed at $5.73.

Analyst Upgrades and Downgrades

Separately, Evercore ISI reduced their price target 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.

Borr Drilling Stock Performance

The company has a market cap of $840.22 million, a PE ratio of 68.88 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. The business has a fifty day moving average of $6.32 and a 200-day moving average of $6.51.

Borr Drilling (NYSE:BORR - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. Borr Drilling had a return on equity of 2.38% and a net margin of 2.86%. The company had revenue of $220.60 million for the quarter.

Borr Drilling Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, March 1st. This represents a $0.60 dividend on an annualized basis and a yield of 10.89%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its holdings in shares of Borr Drilling by 111.6% during the 4th quarter. Quadrant Capital Group LLC now owns 4,472 shares of the company's stock worth $33,000 after acquiring an additional 2,359 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Borr Drilling by 262.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,168 shares of the company's stock worth $65,000 after acquiring an additional 6,636 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Borr Drilling during the 2nd quarter worth approximately $75,000. Franklin Resources Inc. purchased a new position in shares of Borr Drilling during the 1st quarter worth approximately $86,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Borr Drilling during the 1st quarter worth approximately $88,000. Hedge funds and other institutional investors own 83.12% of the company's stock.

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.