Borr Drilling Limited (NYSE:BORR) Short Interest Up 12.2% in September

Borr Drilling Limited (NYSE:BORR) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 9,190,000 shares, a growth of 12.2% from the August 31st total of 8,190,000 shares. Currently, 4.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is currently 5.0 days.

Borr Drilling Trading Up 5.2 %

Shares of Borr Drilling stock traded up $0.28 during midday trading on Friday, reaching $5.62. The company had a trading volume of 1,833,300 shares, compared to its average volume of 1,950,127. The firm has a market cap of $857.05 million, a PE ratio of 33.06 and a beta of 3.00. The stock has a fifty day moving average price of $6.01 and a 200 day moving average price of $6.15. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.57 and a quick ratio of 1.57. Borr Drilling has a fifty-two week low of $5.09 and a fifty-two week high of $7.61.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 EPS for the quarter. Borr Drilling had a net margin of 8.15% and a return on equity of 7.69%. The company had revenue of $271.90 million for the quarter.

Borr Drilling Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 22nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 7.12%. The ex-dividend date of this dividend was Thursday, August 22nd. Borr Drilling’s dividend payout ratio (DPR) is presently 58.82%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI raised shares of Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 target price for the company in a report on Friday, September 13th.

Institutional Trading of Borr Drilling

Several hedge funds have recently modified their holdings of BORR. Xponance Inc. grew its stake in Borr Drilling by 13.3% in the second quarter. Xponance Inc. now owns 15,058 shares of the company’s stock valued at $97,000 after acquiring an additional 1,767 shares during the period. ProShare Advisors LLC lifted its stake in shares of Borr Drilling by 8.5% in the first quarter. ProShare Advisors LLC now owns 39,513 shares of the company’s stock valued at $271,000 after buying an additional 3,110 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Borr Drilling by 4.5% during the first quarter. Bleakley Financial Group LLC now owns 90,901 shares of the company’s stock valued at $623,000 after buying an additional 3,874 shares during the last quarter. Principal Financial Group Inc. increased its position 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 worth $203,000 after acquiring an additional 4,125 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Borr Drilling by 6.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,363 shares of the company’s stock worth $454,000 after acquiring an additional 4,520 shares in the last quarter. Institutional investors own 83.12% of the company’s stock.

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.