Borr Drilling Limited (NYSE:BORR) Sees Significant Decrease in Short Interest

Borr Drilling Limited (NYSE:BORRGet Free Report) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 8,390,000 shares, a drop of 5.9% from the February 29th total of 8,920,000 shares. Based on an average trading volume of 1,760,000 shares, the days-to-cover ratio is presently 4.8 days. Currently, 3.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI lowered 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 research report on Friday, February 23rd.

View Our Latest Research Report on Borr Drilling

Institutional Investors Weigh In On Borr Drilling

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Borr Drilling by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 9,270,971 shares of the company’s stock worth $68,234,000 after buying an additional 129,683 shares during the period. Virtu Financial LLC acquired a new stake in shares of Borr Drilling during the 4th quarter worth approximately $202,000. FIL Ltd grew its position in shares of Borr Drilling by 312.2% during the 4th quarter. FIL Ltd now owns 5,191,241 shares of the company’s stock worth $38,208,000 after buying an additional 3,931,841 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Borr Drilling by 9.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,828 shares of the company’s stock worth $404,000 after acquiring an additional 4,643 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Borr Drilling by 16.8% during the 4th quarter. Legal & General Group Plc now owns 187,620 shares of the company’s stock worth $1,399,000 after acquiring an additional 26,995 shares during the last quarter. Institutional investors and hedge funds own 83.12% of the company’s stock.

Borr Drilling Trading Down 0.3 %

BORR opened at $6.19 on Wednesday. Borr Drilling has a 1-year low of $5.70 and a 1-year high of $9.01. The firm has a 50-day moving average price of $6.48 and a two-hundred day moving average price of $6.62. 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 stock has a market capitalization of $943.91 million, a PE ratio of 77.57 and a beta of 3.02.

Borr Drilling (NYSE:BORRGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Borr Drilling had a net margin of 2.86% and a return on equity of 2.38%. The company had revenue of $220.60 million during the quarter.

Borr Drilling Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were given a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a dividend yield of 9.69%. The ex-dividend date was Friday, March 1st.

Borr Drilling Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Borr Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Borr Drilling and related companies with MarketBeat.com's FREE daily email newsletter.