Short Interest in Borr Drilling Limited (NYSE:BORR) Expands By 7.2%

Borr Drilling Limited (NYSE:BORR) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 9,570,000 shares, an increase of 7.2% from the June 30th total of 8,930,000 shares. Based on an average daily volume of 1,820,000 shares, the days-to-cover ratio is presently 5.3 days. Approximately 4.2% of the shares of the company are sold short.

Borr Drilling Stock Performance

NYSE BORR traded down $0.38 during trading hours on Thursday, reaching $6.47. The stock had a trading volume of 1,488,242 shares, compared to its average volume of 1,990,387. Borr Drilling has a 52-week low of $5.19 and a 52-week high of $9.01. The stock has a fifty day moving average of $6.53 and a 200 day moving average of $6.31. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market cap of $1.01 billion, a P/E ratio of 38.18 and a beta of 3.07.

Borr Drilling (NYSE:BORR) last announced its quarterly earnings data on Thursday, May 23rd. The company reported $0.06 EPS for the quarter. The business had revenue of $234.00 million during the quarter. Borr Drilling had a net margin of 5.27% and a return on equity of 4.62%.

Borr Drilling Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.18%. The ex-dividend date was Monday, June 3rd. Borr Drilling’s payout ratio is 58.82%.

Institutional Investors Weigh In On Borr Drilling

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors boosted its stake in shares of Borr Drilling by 35.4% in the first quarter. Capital International Investors now owns 17,608,781 shares of the company’s stock worth $116,834,000 after buying an additional 4,601,527 shares during the last quarter. Capital International Inc. CA lifted its holdings 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 valued at $18,131,000 after acquiring an additional 431,861 shares during the period. Covestor Ltd boosted its position in Borr Drilling by 31,600.0% in the 1st quarter. Covestor Ltd now owns 5,706 shares of the company’s stock worth $39,000 after purchasing an additional 5,688 shares in the last quarter. Simplicity Solutions LLC grew its stake in shares of Borr Drilling by 12.8% during the 4th quarter. Simplicity Solutions LLC now owns 87,027 shares of the company’s stock worth $641,000 after purchasing an additional 9,896 shares during the period. Finally, Bleakley Financial Group LLC increased its holdings in shares of Borr Drilling by 12.8% during the 4th quarter. Bleakley Financial Group LLC now owns 87,027 shares of the company’s stock valued at $641,000 after purchasing an additional 9,896 shares in the last quarter. 83.12% of the stock is owned by institutional investors and hedge funds.

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.