CenterBook Partners LP Makes New $775,000 Investment in Valaris Limited (NYSE:VAL)

Key Points

• CenterBook Partners LP has invested $775,000 in Valaris Limited by acquiring 19,744 shares of the company.
• Valaris' stock opened at $47.02 and has a market capitalization of $3.35 billion, down 2.4% recently.
• The company reported $1.61 EPS for the last quarter, exceeding analysts' expectations and projecting 3.96 EPS for the current year.

CenterBook Partners LP bought a new position in shares of Valaris Limited (NYSE:VAL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,744 shares of the company's stock, valued at approximately $775,000.

Several other large investors also recently made changes to their positions in the business. Quarry LP raised its position in 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 during the period. Bayforest Capital Ltd increased its holdings in Valaris by 17.2% during the 1st quarter. Bayforest Capital Ltd now owns 1,920 shares of the company's stock worth $75,000 after purchasing an additional 282 shares during the last quarter. Covestor Ltd raised its holdings in Valaris by 40.1% in the fourth quarter. Covestor Ltd now owns 1,911 shares of the company's stock valued at $85,000 after acquiring an additional 547 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Valaris by 8.4% during the first quarter. Kestra Private Wealth Services LLC now owns 7,283 shares of the company's stock worth $286,000 after purchasing an additional 564 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Valaris by 0.3% during the fourth quarter. Nuveen Asset Management LLC now owns 184,318 shares of the company's stock valued at $8,154,000 after buying an additional 588 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Valaris Stock Down 2.4%

Shares of Valaris stock opened at $47.02 on Friday. The company has a market capitalization of $3.35 billion, a P/E ratio of 12.25 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. Valaris Limited has a 1-year low of $27.15 and a 1-year high of $66.83. The business's fifty day moving average price is $45.77 and its two-hundred day moving average price is $41.06.

Valaris (NYSE:VAL - Get Free Report) last announced 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. The firm had revenue of $615.20 million for the quarter, compared to analysts' expectations of $582.70 million. Valaris had a return on equity of 12.36% and a net margin of 11.18%. The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.03 earnings per share. As a group, research analysts forecast that Valaris Limited will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

VAL has been the subject of a number of research analyst reports. Evercore ISI lowered their price target on Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. BTIG Research restated a "buy" rating on shares of Valaris in a research note on Monday, July 14th. Fearnley Fonds cut Valaris from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded Valaris to a "sell" rating in a research report on Tuesday, May 13th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $50.00 target price (up from $47.00) on shares of Valaris in a research report on Thursday, July 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $46.20.

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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