Dauntless Investment Group LLC Purchases 8,580 Shares of Valaris Limited (NYSE:VAL)

Key Points

• Dauntless Investment Group LLC increased its stake in Valaris Limited by 78.5% in Q1, acquiring an additional 8,580 shares, which makes Valaris its 12th largest holding valued at approximately $766,000.
• Valaris reported a quarterly loss of ($0.53) EPS, missing estimates of $1.10, while achieving revenue of $620.70 million, exceeding expectations and reflecting a 6.2% year-over-year increase.
• Analysts have given Valaris a consensus rating of "Hold" with an average price target of $52.50, amid mixed ratings from different firms.

Dauntless Investment Group LLC boosted its position in Valaris Limited (NYSE:VAL - Free Report) by 78.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,505 shares of the company's stock after acquiring an additional 8,580 shares during the period. Valaris accounts for 0.9% of Dauntless Investment Group LLC's investment portfolio, making the stock its 12th biggest position. Dauntless Investment Group LLC's holdings in Valaris were worth $766,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Valaris by 55.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock valued at $101,771,000 after purchasing an additional 821,304 shares in the last quarter. Norges Bank bought a new stake in shares of Valaris during the 4th quarter valued at about $31,949,000. Condire Management LP boosted its stake in shares of Valaris by 34.1% during the 4th quarter. Condire Management LP now owns 2,618,678 shares of the company's stock valued at $115,850,000 after purchasing an additional 665,718 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Valaris during the fourth quarter worth about $21,747,000. Finally, Waverton Investment Management Ltd boosted its stake in Valaris by 49.7% during the first quarter. Waverton Investment Management Ltd now owns 1,131,601 shares of the company's stock worth $44,455,000 after acquiring an additional 375,466 shares in the last quarter. Institutional investors own 96.74% of the company's stock.

Wall Street Analyst Weigh In

VAL has been the topic of several research reports. Evercore ISI dropped their price objective on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. BTIG Research reissued a "buy" rating on shares of Valaris in a research note on Monday, July 14th. Wall Street Zen raised shares of Valaris to a "sell" rating in a research note on Tuesday, May 13th. Susquehanna boosted 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. Finally, Barclays boosted their price objective on shares of Valaris from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $53.50.

Valaris Stock Performance

Shares of VAL traded down $3.27 during mid-day trading on Friday, hitting $45.36. 1,593,208 shares of the company traded hands, compared to its average volume of 1,797,992. Valaris Limited has a 1 year low of $27.15 and a 1 year high of $72.00. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 11.81 and a beta of 1.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a 50-day moving average price of $44.87 and a two-hundred day moving average price of $41.12.

Valaris (NYSE:VAL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.45. Valaris had a net margin of 11.18% and a return on equity of 12.56%. 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 prior year, the company earned $2.03 earnings per share. The firm's revenue was up .8% on a year-over-year basis. Equities analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current year.

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.