Gallacher Capital Management LLC Makes New Investment in Valaris Limited $VAL

Key Points

• Gallacher Capital Management opened a new position in Valaris during the first quarter, buying 13,098 shares worth about $1.284 million.
• Valaris stock was trading lower, with shares opening at $76.41 and sitting below both its 50-day and 200-day moving averages.
• The company’s latest earnings missed EPS expectations even as revenue topped estimates, and analysts remain cautious with an average rating of "Reduce" and a target price of $60.31.

Gallacher Capital Management LLC bought a new position in Valaris Limited (NYSE:VAL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,098 shares of the company's stock, valued at approximately $1,284,000.

A number of other institutional investors also recently modified their holdings of VAL. Bessemer Group Inc. grew its stake in Valaris by 60.8% in the 1st quarter. Bessemer Group Inc. now owns 84,917 shares of the company's stock valued at $8,325,000 after buying an additional 32,100 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its position in shares of Valaris by 24.2% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,319,351 shares of the company's stock worth $129,349,000 after acquiring an additional 257,281 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of Valaris by 1.3% in the first quarter. State of Michigan Retirement System now owns 15,500 shares of the company's stock worth $1,520,000 after acquiring an additional 200 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Valaris by 31.4% in the first quarter. Principal Financial Group Inc. now owns 184,082 shares of the company's stock worth $18,047,000 after acquiring an additional 44,016 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Valaris in the first quarter valued at $326,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Trading Down 0.7%

Shares of VAL opened at $76.41 on Friday. The firm's 50-day moving average price is $87.49 and its 200-day moving average price is $83.53. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 5.35 and a beta of 0.93. Valaris Limited has a 1-year low of $43.53 and a 1-year high of $114.12.

Valaris (NYSE:VAL - Get Free Report) last released its earnings results on Monday, May 4th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.19). The business had revenue of $465.40 million during the quarter, compared to analysts' expectations of $443.75 million. Valaris had a return on equity of 12.31% and a net margin of 45.37%.The firm's quarterly revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.53) earnings per share. Sell-side analysts anticipate that Valaris Limited will post 3.18 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on VAL shares. Susquehanna cut their price objective on shares of Valaris from $98.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, July 8th. Weiss Ratings lowered Valaris from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Nine analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $60.31.

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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