Borr Drilling (NYSE:BORR) Shares Gap Up to $5.98

Borr Drilling Limited (NYSE:BORR)’s share price gapped up 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 capitalization 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) 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. Shareholders of record on Thursday, August 22nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend is Thursday, August 22nd. Borr Drilling’s dividend payout ratio is presently 58.82%.

Institutional Trading of Borr Drilling

Several institutional investors have recently added to or reduced their stakes in the business. Capital International Investors lifted its stake in shares of Borr Drilling by 35.4% in the 1st quarter. Capital International Investors now owns 17,608,781 shares of the company’s stock valued at $116,834,000 after acquiring an additional 4,601,527 shares during the last quarter. Capital International Inc. CA increased its stake in Borr Drilling by 19.5% in the 1st quarter. Capital International Inc. CA now owns 2,646,820 shares of the company’s stock worth $18,131,000 after purchasing an additional 431,861 shares during the period. Covestor Ltd lifted 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% during 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 stock is currently owned by hedge funds and other 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.