Valaris Limited $VAL Shares Bought by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC increased its position in Valaris Limited (NYSE: VAL) by 103.6%, owning 23,794 shares valued at approximately $930,000.
• Valaris reported $1.61 earnings per share (EPS) for the latest quarter, surpassing estimates and achieving revenue of $615.20 million, up 0.8% compared to the previous year.
• Analysts have a consensus rating of "Hold" on Valaris stock, with a target price of $47.21, and one analyst rated it a "Buy" while seven rated it "Hold".

Kestra Investment Management LLC lifted its stake in shares of Valaris Limited (NYSE:VAL - Free Report) by 103.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,794 shares of the company's stock after buying an additional 12,110 shares during the quarter. Kestra Investment Management LLC's holdings in Valaris were worth $930,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VAL. Dalal Street LLC purchased a new stake in shares of Valaris during the 1st quarter worth approximately $56,046,000. Tensile Capital Management LP purchased a new stake in shares of Valaris during the 1st quarter worth approximately $25,912,000. Moerus Capital Management LLC purchased a new stake in shares of Valaris during the 1st quarter worth approximately $18,314,000. Dimensional Fund Advisors LP lifted its position in shares of Valaris by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,761,369 shares of the company's stock worth $108,412,000 after buying an additional 460,792 shares during the last quarter. Finally, Waverton Investment Management Ltd lifted its position in shares of Valaris by 49.7% during the 1st quarter. Waverton Investment Management Ltd now owns 1,131,601 shares of the company's stock worth $44,455,000 after buying an additional 375,466 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on VAL shares. BTIG Research reiterated a "buy" rating on shares of Valaris in a research report on Monday, July 14th. SEB Equity Research set a $45.50 price target on shares of Valaris in a research note on Monday, September 1st. Barclays increased their price target on shares of Valaris from $37.00 to $39.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Zacks Research upgraded shares of Valaris from a "strong sell" rating to a "hold" rating in a report on Friday, September 5th. Finally, Citigroup reiterated a "neutral" rating and issued a $50.00 price target (up previously from $47.00) on shares of Valaris in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Valaris currently has an average rating of "Hold" and a consensus price target of $47.21.

Valaris Price Performance

NYSE VAL traded up $1.35 during trading hours on Wednesday, reaching $52.54. The company's stock had a trading volume of 1,180,113 shares, compared to its average volume of 1,088,679. The stock has a market cap of $3.74 billion, a PE ratio of 13.68 and a beta of 1.17. Valaris Limited has a fifty-two week low of $27.15 and a fifty-two week high of $57.90. The company's 50-day moving average is $48.23 and its two-hundred day moving average is $41.34. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.81.

Valaris (NYSE:VAL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.45. The firm had revenue of $615.20 million for the quarter, compared to analysts' expectations of $582.70 million. Valaris had a net margin of 11.18% and a return on equity of 12.36%. The firm's revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $2.03 EPS. Analysts forecast that Valaris Limited will post 3.96 EPS for the current year.

Valaris 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.