Valaris Limited (NYSE:VAL) Shares Sold by Brightlight Capital Management LP

Brightlight Capital Management LP lowered its stake in shares of Valaris Limited (NYSE:VAL - Free Report) by 37.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 135,256 shares of the company's stock after selling 80,244 shares during the quarter. Valaris comprises approximately 4.4% of Brightlight Capital Management LP's holdings, making the stock its 7th largest holding. Brightlight Capital Management LP owned 0.19% of Valaris worth $5,984,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP raised its stake in shares of Valaris by 51.7% in the 4th quarter. Quarry LP now owns 684 shares of the company's stock valued at $30,000 after buying an additional 233 shares in the last quarter. Arizona State Retirement System increased its stake in Valaris by 1.3% in the fourth quarter. Arizona State Retirement System now owns 19,002 shares of the company's stock valued at $841,000 after acquiring an additional 237 shares during the period. Xponance Inc. raised its position in Valaris by 5.5% in the fourth quarter. Xponance Inc. now owns 9,273 shares of the company's stock worth $410,000 after purchasing an additional 487 shares in the last quarter. State of Michigan Retirement System lifted its stake in Valaris by 3.3% during the fourth quarter. State of Michigan Retirement System now owns 15,500 shares of the company's stock worth $686,000 after purchasing an additional 500 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Valaris by 41.0% during the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock valued at $78,000 after purchasing an additional 511 shares in the last quarter. 96.74% of the stock is owned by institutional investors.

Valaris Price Performance

Shares of NYSE VAL traded up $0.85 during trading on Friday, reaching $38.32. The company had a trading volume of 1,370,375 shares, compared to its average volume of 1,526,870. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $84.20. The business's 50 day moving average price is $35.18 and its 200-day moving average price is $42.04. The stock has a market cap of $2.72 billion, a PE ratio of 7.46 and a beta of 1.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59.

Valaris (NYSE:VAL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $1.10 by ($1.63). The company had revenue of $620.70 million during the quarter, compared to the consensus estimate of $582.87 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The business's revenue was up 6.2% on a year-over-year basis. Analysts expect that Valaris Limited will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on VAL shares. StockNews.com upgraded Valaris to a "sell" rating in a research report on Thursday, February 20th. Evercore ISI cut their price objective on Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Citigroup reduced their target price on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Susquehanna dropped their target price on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Barclays upped their price objective on shares of Valaris from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, Valaris has an average rating of "Hold" and a consensus target price of $49.17.

Valaris Company Profile

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.