683 Capital Management LLC Invests $1.57 Million in Valaris Limited $VAL

Key Points

• 683 Capital Management LLC has invested approximately $1.57 million in Valaris Limited by acquiring 40,000 shares, marking a 0.06% ownership in the company following the latest quarter.
• The stock of Valaris Limited is currently rated with a consensus of "Hold" among analysts, with a revised price target averaging $46.20.
• Valaris reported earnings of $1.61 EPS for the last quarter, exceeding estimates, with revenues also surpassing analyst expectations at $615.20 million.

683 Capital Management LLC bought a new stake in Valaris Limited (NYSE:VAL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 40,000 shares of the company's stock, valued at approximately $1,570,000. 683 Capital Management LLC owned about 0.06% of Valaris as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Quarry LP boosted its stake in shares of Valaris by 51.7% during the fourth quarter. Quarry LP now owns 684 shares of the company's stock valued at $30,000 after acquiring an additional 233 shares during the last quarter. Lowe Wealth Advisors LLC acquired a new stake in shares of Valaris during the first quarter valued at $28,000. UMB Bank n.a. acquired a new stake in shares of Valaris during the first quarter valued at $44,000. GAMMA Investing LLC boosted its stake in shares of Valaris by 1,027.5% during the first quarter. GAMMA Investing LLC now owns 1,353 shares of the company's stock valued at $53,000 after acquiring an additional 1,233 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its stake in shares of 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. Institutional investors and hedge funds own 96.74% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on VAL shares. Clarkson Capital lowered Valaris from a "buy" rating to a "neutral" rating and set a $54.00 price objective on the stock. in a research note on Tuesday. Susquehanna increased their price objective on Valaris from $46.00 to $52.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. SEB Equity Research set a $45.50 price objective on Valaris in a research note on Monday. BTIG Research reaffirmed a "buy" rating on shares of Valaris in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded Valaris from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $47.21.

Valaris Trading Up 1.7%

NYSE VAL traded up $0.85 during trading hours on Friday, hitting $51.11. 1,494,819 shares of the company's stock were exchanged, compared to its average volume of 1,046,793. The business's 50 day moving average is $47.76 and its 200-day moving average is $41.16. Valaris Limited has a 12-month low of $27.15 and a 12-month high of $57.90. The firm has a market capitalization of $3.64 billion, a P/E ratio of 13.31 and a beta of 1.17. 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 released its quarterly earnings data on Wednesday, July 30th. The company reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.45. The company had revenue of $615.20 million for 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 quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $2.03 EPS. As a group, analysts anticipate that Valaris Limited will post 3.96 EPS 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.