Brightlight Capital Management LP Purchases 16,244 Shares of Valaris Limited $VAL

Key Points

• Brightlight Capital Management LP has increased its shareholding in Valaris Limited by 12.0%, acquiring an additional 16,244 shares in the first quarter, bringing its total ownership to 151,500 shares, which is valued at approximately $5.95 million.
• Valaris reported earnings of $1.61 per share for the quarter, significantly exceeding analyst expectations of $1.16, and experienced a slight year-over-year revenue increase of 0.8% to $615.20 million.
• Institutional investors and hedge funds hold approximately 96.74% of Valaris' stock, indicating strong investor confidence in the company.

Brightlight Capital Management LP lifted its stake in Valaris Limited (NYSE:VAL - Free Report) by 12.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,500 shares of the company's stock after purchasing an additional 16,244 shares during the quarter. Valaris accounts for 4.0% of Brightlight Capital Management LP's portfolio, making the stock its 8th largest position. Brightlight Capital Management LP owned about 0.21% of Valaris worth $5,948,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VAL. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 1,233 shares during the last quarter. South Dakota Investment Council grew its holdings in Valaris by 33.1% during the first quarter. South Dakota Investment Council now owns 47,456 shares of the company's stock valued at $1,863,000 after purchasing an additional 11,800 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Valaris during the fourth quarter valued at approximately $875,000. Deutsche Bank AG grew its stake in shares of Valaris by 94.7% in the fourth quarter. Deutsche Bank AG now owns 207,291 shares of the company's stock worth $9,171,000 after acquiring an additional 100,812 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Valaris by 14.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,399 shares of the company's stock worth $6,344,000 after acquiring an additional 18,107 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Valaris Stock Performance

VAL traded down $0.55 during trading on Tuesday, reaching $49.12. 966,469 shares of the company's stock were exchanged, compared to its average volume of 1,722,158. Valaris Limited has a fifty-two week low of $27.15 and a fifty-two week high of $60.17. 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 business has a 50 day moving average price of $47.13 and a 200 day moving average price of $40.97. The company has a market capitalization of $3.50 billion, a P/E ratio of 12.79 and a beta of 1.17.

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

Analysts Set New Price Targets

VAL has been the topic of several research analyst reports. Citigroup restated a "neutral" rating and issued a $50.00 price objective (up previously from $47.00) on shares of Valaris in a research note on Thursday, July 10th. Susquehanna raised their price objective on shares of Valaris from $46.00 to $52.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Clarkson Capital downgraded shares of 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. Wall Street Zen upgraded shares of Valaris from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, BTIG Research restated a "buy" rating on shares of Valaris in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $47.50.

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.