Bluefin Capital Management LLC Makes New $232,000 Investment in Valaris Limited $VAL

Key Points

• Bluefin Capital Management LLC acquired 5,917 shares of Valaris Limited, valued at approximately $232,000, indicating growing interest in the company.
• Valaris reported better-than-expected earnings of $1.61 EPS, beating analyst estimates and showing a year-over-year revenue increase of 0.8%.
• Analysts have set a consensus target price of $47.21 for Valaris shares, reflecting a mix of ratings with one "Buy" and multiple "Hold" ratings.

Bluefin Capital Management LLC purchased a new stake in shares of Valaris Limited (NYSE:VAL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,917 shares of the company's stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bayforest Capital Ltd lifted its position in Valaris by 17.2% during the first quarter. Bayforest Capital Ltd now owns 1,920 shares of the company's stock valued at $75,000 after acquiring an additional 282 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in Valaris by 8.4% during the first quarter. Kestra Private Wealth Services LLC now owns 7,283 shares of the company's stock valued at $286,000 after purchasing an additional 564 shares during the period. Nuveen Asset Management LLC boosted its position in Valaris by 0.3% in the 4th quarter. Nuveen Asset Management LLC now owns 184,318 shares of the company's stock worth $8,154,000 after purchasing an additional 588 shares in the last quarter. RiverGlades Family Offices LLC grew its position in shares of Valaris by 11.5% during the 1st quarter. RiverGlades Family Offices LLC now owns 5,800 shares of the company's stock valued at $228,000 after acquiring an additional 600 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Valaris by 2.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,084 shares of the company's stock valued at $1,552,000 after buying an additional 703 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Valaris Stock Performance

Shares of VAL stock traded up $0.09 during midday trading on Monday, hitting $52.12. The company had a trading volume of 477,844 shares, compared to its average volume of 1,690,419. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 13.58 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 1.81. The company's 50 day simple moving average is $48.52 and its 200 day simple moving average is $41.58. Valaris Limited has a 52-week low of $27.15 and a 52-week high of $57.90.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VAL shares. Wall Street Zen raised shares of Valaris from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Barclays raised their price objective on Valaris from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Fearnley Fonds cut Valaris from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. SEB Equity Research set a $45.50 target price on Valaris in a research report on Monday, September 1st. Finally, Clarkson Capital lowered shares of Valaris from a "buy" rating to a "neutral" rating and set a $54.00 price target on the stock. in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $47.21.

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.