Empowered Funds LLC Lowers Holdings in Valaris Limited $VAL

Key Points

• Empowered Funds LLC cut its Valaris stake by 75.6% in the first quarter, selling 19,862 shares and retaining 6,399 shares valued at approximately $627,000.
• Other institutional investors increased their exposure, including Healthcare of Ontario Pension Plan Trust Fund, which raised its position by 67.8%; institutions collectively own 96.74% of Valaris shares.
• Valaris beat quarterly earnings expectations with $0.72 EPS versus the $0.31 consensus and revenue of $539.2 million, although revenue declined 12.4% year over year. Analysts remain cautious, with a consensus “Reduce” rating and a $60.94 price target.

Empowered Funds LLC lowered its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 75.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,399 shares of the company's stock after selling 19,862 shares during the period. Empowered Funds LLC's holdings in Valaris were worth $627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schf GPE LLC purchased a new stake in shares of Valaris during the 2nd quarter worth $77,675,000. Whitebox Advisors LLC purchased a new position in Valaris in the first quarter valued at about $57,249,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Valaris by 67.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,363,230 shares of the company's stock valued at $133,651,000 after purchasing an additional 550,987 shares during the last quarter. Norges Bank bought a new position in Valaris in the fourth quarter worth about $23,581,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Valaris by 212.8% during the third quarter. Ameriprise Financial Inc. now owns 470,076 shares of the company's stock valued at $22,926,000 after buying an additional 319,780 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VAL has been the topic of a number of recent analyst reports. Susquehanna upped their price target on Valaris from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of Valaris in a research note on Monday, August 3rd. Eight research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $60.94.

Valaris Trading Up 1.8%

Shares of NYSE:VAL opened at $87.17 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34. Valaris Limited has a 12-month low of $43.53 and a 12-month high of $114.12. The business has a 50 day moving average of $79.38 and a two-hundred day moving average of $87.61. The company has a market capitalization of $6.05 billion, a PE ratio of 6.51 and a beta of 0.94.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.41. The company had revenue of $539.20 million during the quarter, compared to analysts' expectations of $488.52 million. Valaris had a net margin of 43.95% and a return on equity of 9.25%. The firm's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.61 earnings per share. As a group, analysts forecast that Valaris Limited will post 3.18 EPS for the current year.

Valaris Profile

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh‐environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.

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