Borr Drilling (NYSE:BORR) Shares Gap Up to $6.31

Borr Drilling Limited (NYSE:BORR)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $6.31, but opened at $6.52. Borr Drilling shares last traded at $6.53, with a volume of 303,853 shares traded.

Analyst Upgrades and Downgrades

Separately, Evercore ISI dropped their target price on 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 Stock Up 3.4 %

The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 1.65. The company has a market cap of $1.03 billion, a PE ratio of 84.14 and a beta of 3.02. The stock has a 50-day moving average of $6.50 and a 200-day moving average of $6.64.

Borr Drilling (NYSE:BORR) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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 disclosed a monthly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a $0.05 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.92%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Borr Drilling by 68.0% in the third quarter. Barclays PLC now owns 2,423,679 shares of the company’s stock valued at $17,208,000 after acquiring an additional 981,153 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Borr Drilling in the third quarter valued at $900,000. Kestra Advisory Services LLC increased its stake in Borr Drilling by 1,966.8% in the third quarter. Kestra Advisory Services LLC now owns 206,680 shares of the company’s stock valued at $1,467,000 after acquiring an additional 196,680 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in Borr Drilling by 32.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 14,415 shares of the company’s stock valued at $102,000 after acquiring an additional 3,519 shares during the last quarter. Finally, Tudor Investment Corp Et Al increased its stake in Borr Drilling by 15.2% in the third quarter. Tudor Investment Corp Et Al now owns 389,183 shares of the company’s stock valued at $2,763,000 after acquiring an additional 51,418 shares during the last quarter. Institutional investors own 83.12% of the company’s stock.

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.