Borr Drilling (NYSE:BORR) Announces Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Borr Drilling (NYSE:BORR) released its quarterly earnings data on Thursday. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.08 by $0.22, reports. Borr Drilling had a negative return on equity of 8.33% and a negative net margin of 13.44%. The company had revenue of $191.50 million for the quarter.

Borr Drilling Price Performance

BORR stock traded up $0.09 during trading hours on Friday, hitting $6.24. 989,164 shares of the stock traded hands, compared to its average volume of 1,524,954. The company has a market cap of $951.54 million, a P/E ratio of -14.95 and a beta of 3.21. Borr Drilling has a one year low of $4.03 and a one year high of $9.01. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.70. The stock has a 50-day simple moving average of $6.75 and a 200 day simple moving average of $7.19.

Institutional Investors Weigh In On Borr Drilling

Several institutional investors have recently made changes to their positions in BORR. JPMorgan Chase & Co. bought a new position in Borr Drilling in the first quarter valued at about $66,000. Dimensional Fund Advisors LP bought a new stake in Borr Drilling in the 1st quarter valued at $552,000. Renaissance Technologies LLC grew its holdings in shares of Borr Drilling by 3,450.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,059,611 shares of the company’s stock worth $3,570,000 after purchasing an additional 1,029,768 shares in the last quarter. Williams Jones Wealth Management LLC. bought a new stake in shares of Borr Drilling during the 1st quarter worth $336,000. Finally, Invesco Ltd. grew its position in Borr Drilling by 63.8% during the 1st quarter. Invesco Ltd. now owns 79,106 shares of the company’s stock worth $265,000 after acquiring an additional 30,799 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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.