Dalal Street LLC Takes $56.05 Million Position in Valaris Limited $VAL

Key Points

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Dalal Street LLC purchased a new stake in shares of Valaris Limited (NYSE:VAL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,427,564 shares of the company's stock, valued at approximately $56,046,000. Valaris makes up approximately 23.9% of Dalal Street LLC's portfolio, making the stock its 2nd largest position. Dalal Street LLC owned 2.01% of Valaris as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of VAL. Nations Financial Group Inc. IA ADV boosted its holdings in Valaris by 398.5% in the first quarter. Nations Financial Group Inc. IA ADV now owns 86,149 shares of the company's stock worth $3,382,000 after purchasing an additional 68,867 shares in the last quarter. American Century Companies Inc. boosted its holdings in Valaris by 244.2% in the first quarter. American Century Companies Inc. now owns 115,211 shares of the company's stock worth $4,523,000 after purchasing an additional 81,737 shares in the last quarter. Tejara Capital Ltd boosted its holdings in Valaris by 2.5% in the first quarter. Tejara Capital Ltd now owns 115,220 shares of the company's stock worth $4,524,000 after purchasing an additional 2,815 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 purchasing an additional 460,792 shares in the last quarter. Finally, Moerus Capital Management LLC bought a new stake in Valaris in the first quarter worth $18,314,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VAL has been the topic of several research analyst reports. Evercore ISI lowered their price target on Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. BTIG Research reaffirmed a "buy" rating on shares of Valaris in a research report on Monday, July 14th. Citigroup reissued a "neutral" rating and issued a $50.00 price objective (up from $47.00) on shares of Valaris in a research report on Thursday, July 10th. Fearnley Fonds downgraded shares of Valaris from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Barclays boosted their target price on shares of Valaris from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $46.20.

Valaris Price Performance

NYSE:VAL traded up $2.9730 during mid-day trading on Friday, hitting $49.1530. The company's stock had a trading volume of 1,757,495 shares, compared to its average volume of 1,756,217. Valaris Limited has a fifty-two week low of $27.15 and a fifty-two week high of $65.68. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 12.80 and a beta of 1.17. The stock has a fifty day moving average of $46.63 and a 200-day moving average of $40.92.

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 analyst estimates of $582.70 million. Valaris had a net margin of 11.18% and a return on equity of 12.36%. The company's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.03 earnings per share. As a group, equities analysts forecast that Valaris Limited will post 3.96 EPS for the current fiscal 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.