Balefire LLC Makes New Investment in Valaris Limited (NYSE:VAL)

Balefire LLC purchased a new position in Valaris Limited (NYSE:VAL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,181 shares of the company's stock, valued at approximately $517,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VAL. Lowe Wealth Advisors LLC purchased a new stake in Valaris during the first quarter worth about $28,000. Quarry LP grew its holdings in shares of Valaris by 51.7% in the fourth quarter. Quarry LP now owns 684 shares of the company's stock valued at $30,000 after purchasing an additional 233 shares in the last quarter. Sterling Capital Management LLC increased its stake in Valaris by 518.3% during the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock worth $33,000 after buying an additional 622 shares during the period. UMB Bank n.a. purchased a new stake in Valaris during the 1st quarter worth approximately $44,000. Finally, GAMMA Investing LLC lifted its holdings in Valaris by 1,027.5% during the 1st quarter. GAMMA Investing LLC now owns 1,353 shares of the company's stock worth $53,000 after buying an additional 1,233 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Evercore ISI dropped their price target on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Citigroup reiterated a "neutral" rating and issued a $47.00 target price (up from $44.00) on shares of Valaris in a report on Wednesday, June 18th. Wall Street Zen upgraded Valaris to a "sell" rating in a report on Tuesday, May 13th. Susquehanna cut their target price on Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Barclays boosted their target price on Valaris from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $49.67.

Valaris Stock Performance

Valaris stock traded up $0.14 during midday trading on Thursday, hitting $42.16. 963,890 shares of the company's stock were exchanged, compared to its average volume of 1,595,087. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 9.90 and a beta of 1.13. Valaris Limited has a 12-month low of $27.15 and a 12-month high of $84.20. The firm's 50 day simple moving average is $38.58 and its 200 day simple moving average is $40.43.

Valaris (NYSE:VAL - Get Free Report) last announced its earnings results 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 business had revenue of $620.70 million for the quarter, compared to analyst estimates of $582.87 million. Valaris had a return on equity of 14.14% and a net margin of 12.61%. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts predict that Valaris Limited will post 3.96 EPS for the current 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.