Nuveen LLC Makes New Investment in Valaris Limited $VAL

Key Points

• Nuveen LLC has acquired 162,377 shares of Valaris Limited, valued at approximately $6.375 million, holding around 0.23% of the company as of the latest SEC filing.
• Valaris reported earnings of $1.61 per share, surpassing analysts' estimates, along with $615.20 million in revenue for the last quarter, which was higher than expectations of $582.70 million.
• The stock has received mixed ratings from analysts, with one 'buy', six 'hold', and one 'sell', resulting in an average target price of $46.20.

Nuveen LLC bought a new position in Valaris Limited (NYSE:VAL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 162,377 shares of the company's stock, valued at approximately $6,375,000. Nuveen LLC owned about 0.23% of Valaris as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Condire Management LP increased its stake in Valaris by 34.1% in the 4th quarter. Condire Management LP now owns 2,618,678 shares of the company's stock worth $115,850,000 after acquiring an additional 665,718 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Valaris by 55.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock worth $101,771,000 after acquiring an additional 821,304 shares during the last quarter. Waverton Investment Management Ltd increased its stake in Valaris by 49.7% in the 1st quarter. Waverton Investment Management Ltd now owns 1,131,601 shares of the company's stock worth $44,455,000 after acquiring an additional 375,466 shares during the last quarter. Northern Trust Corp increased its stake in Valaris by 12.1% in the 4th quarter. Northern Trust Corp now owns 818,461 shares of the company's stock worth $36,209,000 after acquiring an additional 88,160 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Valaris by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 813,871 shares of the company's stock worth $31,953,000 after acquiring an additional 20,278 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VAL shares. Wall Street Zen upgraded Valaris from a "sell" rating to a "hold" rating in a research report on Saturday. BTIG Research reiterated a "buy" rating on shares of Valaris in a research report on Monday, July 14th. Citigroup reiterated a "neutral" rating and set a $50.00 price objective (up from $47.00) on shares of Valaris in a research report on Thursday, July 10th. Barclays increased their price objective on Valaris from $37.00 to $39.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Finally, Susquehanna increased their price objective on Valaris from $46.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $46.20.

Valaris Trading Up 1.2%

VAL stock traded up $0.60 during trading on Friday, hitting $49.72. 724,718 shares of the company traded hands, compared to its average volume of 1,165,869. The firm has a market capitalization of $3.54 billion, a PE ratio of 12.95 and a beta of 1.17. Valaris Limited has a 1 year low of $27.15 and a 1 year high of $61.60. The company has a 50-day moving average of $47.01 and a 200-day moving average of $40.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.81.

Valaris (NYSE:VAL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.45. The company had revenue of $615.20 million during the quarter, compared to analysts' expectations of $582.70 million. Valaris had a return on equity of 12.36% and a net margin of 11.18%.Valaris's quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 EPS. Analysts predict that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

About Valaris

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.