Borr Drilling ( NYSE:BORR ) sees shares as high as $5.98

Shares of Borr Drilling Limited (NYSE:BORR – Get Free Report) rose before the market opened on Thursday. The stock had previously closed at $5.98 but opened at $6.14. Borr Drilling shares last traded at $6.11, with a volume of 94,843 shares changing hands.

Borr Drilling trading up 6.9%

The stock has a fifty day moving average of $6.38 and a two hundred day moving average of $6.26. The company has a market cap of $982.86 million, a PE ratio of 36.76 and a beta of 3.07. The company has a current ratio of 1.60, a quick ratio of 1.60, and a debt-to-equity ratio of 1.82.

Borr Drilling (NYSE:BORR – Get Your Free Report ) last posted its quarterly earnings results on Thursday, May 23rd. The company reported $0.06 EPS for the quarter. Borr Drilling had a net margin of 5.27% and a return on equity of 4.62%. The firm had revenue of $234.00 million for the quarter.

Borr Drilling announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Thursday, August 22nd will be given a $0.10 dividend. This represents an annualized dividend of $0.40 and a yield of 6.21%. The ex-dividend date of this dividend is Thursday, August 22. Borr Drilling’s dividend payout ratio is currently 58.82%.

Institutional trading of Borr Drilling

Several institutional investors have recently added to or reduced their stakes in the business. Capital International Investors boosted its stake in Borr Drilling by 35.4% in the first quarter. Capital International Investors now owns 17,608,781 shares of the company’s stock valued at $116,834,000 after purchasing an additional 4,601,527 shares in the last quarter. Capital International Inc. CA raised its stake in Borr Drilling by 19.5% in the first quarter. Capital International Inc. CA now owns 2,646,820 shares of the company’s stock worth $18,131,000 after buying an additional 431,861 shares during the period. Covestor Ltd grew its position in Borr Drilling by 31,600.0% in the first quarter. Covestor Ltd now owns 5,706 shares of the company’s stock valued at $39,000 after purchasing an additional 5,688 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Borr Drilling by 16.2% in the first quarter. Principal Financial Group Inc. now owns 29,567 shares of the company’s stock valued at $203,000 after purchasing an additional 4,125 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Borr Drilling by 4.1% in the first quarter. Swiss National Bank now owns 423,630 shares of the company’s stock worth $2,701,000 after purchasing an additional 16,810 shares during the last quarter. 83.12% of the shares are currently held by hedge funds and other institutional investors.

About Borr Drilling

(Get a free report)

Borr Drilling Limited operates as a shallow water offshore drilling contractor for the oil and gas industry worldwide. The Company owns, contracts and operates jack-up drilling rigs for shallow-water operations, including the provision of related equipment and work crews to perform oil and gas drilling and workover operations for exploration and production.

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