1,427,564 Shares in Valaris Limited $VAL Purchased by Dalal Street LLC

Key Points

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Dalal Street LLC 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 filing with the Securities and Exchange Commission (SEC). The fund bought 1,427,564 shares of the company's stock, valued at approximately $56,046,000. Valaris makes up about 23.9% of Dalal Street LLC's investment portfolio, making the stock its 2nd largest holding. Dalal Street LLC owned 2.01% of Valaris at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lowe Wealth Advisors LLC acquired a new position in shares of Valaris during the first quarter worth $28,000. Quarry LP lifted 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 acquiring an additional 233 shares during the last quarter. Sterling Capital Management LLC lifted its position in Valaris by 518.3% in the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock valued at $33,000 after acquiring an additional 622 shares during the last quarter. UMB Bank n.a. purchased a new stake in Valaris in the first quarter valued at $44,000. Finally, GAMMA Investing LLC lifted its position in Valaris by 1,027.5% in 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. Institutional investors and hedge funds own 96.74% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on VAL. Wall Street Zen raised shares of Valaris to a "sell" rating in a research report on Tuesday, May 13th. BTIG Research reissued a "buy" rating on shares of Valaris in a research report on Monday, July 14th. Susquehanna boosted their price target on shares of Valaris from $46.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Fearnley Fonds cut shares of Valaris from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, Barclays upped their target price on shares of Valaris from $37.00 to $39.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $46.20.

Valaris Stock Performance

Shares of NYSE:VAL traded up $2.9730 on Friday, reaching $49.1530. The company's stock had a trading volume of 1,757,495 shares, compared to its average volume of 1,417,392. The stock's 50-day moving average is $46.68 and its two-hundred day moving average is $40.84. Valaris Limited has a 52-week low of $27.15 and a 52-week high of $65.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a market capitalization of $3.50 billion, a P/E ratio of 12.80 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 (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.45. The firm had revenue of $615.20 million during the quarter, compared to analysts' expectations of $582.70 million. Valaris had a net margin of 11.18% and a return on equity of 12.36%. The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $2.03 earnings per share. As a group, sell-side analysts forecast 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.