Engineers Gate Manager LP Invests $1.07 Million in Valaris Limited $VAL

Key Points

• Engineers Gate Manager LP acquired 14,716 Valaris shares worth approximately $1.07 million during the second quarter. Other institutional investors also added positions, and institutions now own 96.74% of the company.
• Analyst sentiment remains cautious: six analysts rate Valaris a Hold and one rates it Sell, resulting in a consensus “Reduce” rating and an average price target of $66.60.
• Valaris reported quarterly EPS of $0.72, exceeding the $0.31 consensus estimate, while revenue of $539.2 million topped forecasts but declined 12.4% year over year.

Engineers Gate Manager LP acquired a new position in shares of Valaris Limited (NYSE:VAL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 14,716 shares of the company's stock, valued at approximately $1,068,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Squarepoint Ops LLC increased its stake in Valaris by 48.7% during the 2nd quarter. Squarepoint Ops LLC now owns 238,445 shares of the company's stock worth $17,311,000 after acquiring an additional 78,105 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Valaris during the 2nd quarter worth $276,000. BTG Pactual Asset Management US LLC acquired a new stake in shares of Valaris during the 2nd quarter worth $2,258,000. Quantitative Investment Management LLC bought a new position in shares of Valaris in the second quarter worth $871,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Valaris in the second quarter worth $42,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on VAL shares. Susquehanna upped their price objective on shares of Valaris from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Valaris from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 17th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Valaris currently has an average rating of "Reduce" and a consensus price target of $66.60.

Valaris Stock Down 0.3%

NYSE:VAL opened at $83.81 on Friday. The company has a market cap of $5.82 billion, a PE ratio of 6.26 and a beta of 0.93. Valaris Limited has a one year low of $46.70 and a one year high of $114.12. The firm's 50 day simple moving average is $82.66 and its 200 day simple moving average is $88.54. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.55.

Valaris (NYSE:VAL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.41. The business had revenue of $539.20 million during the quarter, compared to analyst estimates of $488.52 million. Valaris had a return on equity of 9.25% and a net margin of 43.95%.Valaris's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the company earned $1.61 EPS. On average, research analysts anticipate that Valaris Limited will post 3.25 earnings per share for the current year.

Valaris Company Profile

Valaris Limited NYSE: VAL is an offshore contract drilling company that provides drilling services to energy companies worldwide. The company supports exploration and production activities in offshore oil and natural gas fields, operating mobile offshore drilling units for customers under contract.

Valaris' fleet includes drillships, semisubmersible rigs and jackup rigs. These units are designed for a range of offshore environments, from relatively shallow waters to deepwater and harsh-environment locations.

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