Bank Pictet & Cie Europe AG Grows Stock Position in Valaris Limited $VAL

Key Points

• Bank Pictet & Cie Europe AG increased its stake in Valaris Limited by 48.5%, now owning approximately 535,942 shares worth around $22.57 million.
• Valaris reported an earnings per share (EPS) of $1.61 for the last quarter, exceeding analysts' expectations by $0.45, with revenues of $615.20 million.
• The stock has a 52-week range between $27.15 and $57.45, reflecting significant volatility and growth potential in recent trading performance.

Bank Pictet & Cie Europe AG boosted its position in Valaris Limited (NYSE:VAL - Free Report) by 48.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 535,942 shares of the company's stock after buying an additional 175,000 shares during the quarter. Bank Pictet & Cie Europe AG owned approximately 0.75% of Valaris worth $22,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of VAL. Dalal Street LLC purchased a new stake in Valaris in the first quarter worth $56,046,000. Tensile Capital Management LP purchased a new stake in Valaris in the first quarter worth $25,912,000. Moerus Capital Management LLC purchased a new stake in Valaris in the first quarter worth $18,314,000. Dimensional Fund Advisors LP increased its position in Valaris by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,761,369 shares of the company's stock worth $108,412,000 after buying an additional 460,792 shares during the last quarter. Finally, Waverton Investment Management Ltd increased its position in Valaris by 49.7% in the first quarter. Waverton Investment Management Ltd now owns 1,131,601 shares of the company's stock worth $44,455,000 after buying an additional 375,466 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Valaris Price Performance

Valaris stock opened at $50.52 on Friday. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $57.45. The business has a 50-day simple moving average of $49.08 and a 200 day simple moving average of $42.50. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 13.16 and a beta of 1.17.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Zacks Research raised Valaris from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. Barclays lifted their price target on Valaris from $37.00 to $39.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Wall Street Zen upgraded Valaris from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Capital One Financial set a $55.00 price target on Valaris in a research report on Monday, September 15th. Finally, Susquehanna lifted their price target on Valaris from $46.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $48.19.

Valaris 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.

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