MFA Financial Inc. Stock Underperforms Tuesday When Compared To Competitors

Borr Drilling Ltd

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BORR Borr Drilling Ltd

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Energy : Energy Equipment & Services | Small Cap Value
Based in Bermuda

Company profile

Borr Drilling Limited is an offshore shallow-water drilling contractor. The Company’s primary business is the ownership, contracting and operation of jack-up rigs for operations in shallow-water areas, providing drilling services to the oil and gas exploration and production industry. Its jack-up rigs are capable of drilling to a maximum well depth of approximately 35,000 feet while operating in water depths ranging from 30 to 400 feet. It operates in oil-producing geographies throughout the world, including the North Sea, Mexico, West Africa, Southeast Asia and the Middle East. It owns approximately 23 jack-up rigs, which include Skald, Groa, Idun, Thor, Norve, Gerd, Natt, Ran, Odin, Gersemi, Grid, Galar, Njord, Prospector 1, Saga, Prospector 5, Mist, Gunnlod, Frigg, Gyme, Hermod, Heimdal and Hild. The Company contract its jack-up rigs primarily on a day rate basis to drill wells for its customers, including state-owned national oil companies and independent oil and gas companies.

MFA Financial Inc. Stock Underperforms Tuesday When Compared To Competitors

5:07 pm ET June 28, 2022 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of MFA Financial Inc. MFA slipped 0.95% to $11.45 Tuesday, on what proved to be an all-around dismal trading session for the stock market, with the NASDAQ Composite Index COMP falling 2.98% to 11,181.54 and Dow Jones Industrial Average DJIA falling 1.56% to 30,946.99. This was the stock's second consecutive day of losses. MFA Financial Inc. closed $7.95 short of its 52-week high ($19.40), which the company reached on September 2nd.

The stock underperformed when compared to some of its competitors Tuesday, as PennyMac Mortgage Investment Trust PMT rose 0.50% to $14.11, Invesco Mortgage Capital Inc. IVR rose 6.82% to $14.25, and New York Mortgage Trust Inc. NYMT fell 0.73% to $2.71. Trading volume (1.7 M) remained 319,826 below its 50-day average volume of 2.0 M.

Data source: Dow Jones Market Data, FactSet. Data compiled June 28, 2022.

(END) Dow Jones Newswires

June 28, 2022 17:07 ET (21:07 GMT)

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MFA Financial Inc. Stock Underperforms Tuesday When Compared To Competitors