Kestra Investment Management LLC Acquires 12,110 Shares of Valaris Limited $VAL

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 grew its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 103.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Dalal Street LLC acquired a new stake in Valaris in the 1st quarter worth approximately $56,046,000. Tensile Capital Management LP bought a new stake in shares of Valaris during the first quarter valued at approximately $25,912,000. Moerus Capital Management LLC bought a new stake in shares of Valaris during the first quarter valued at approximately $18,314,000. Dimensional Fund Advisors LP grew its position in Valaris by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,761,369 shares of the company's stock valued at $108,412,000 after acquiring an additional 460,792 shares during the period. Finally, Waverton Investment Management Ltd grew its position in Valaris by 49.7% in the first quarter. Waverton Investment Management Ltd now owns 1,131,601 shares of the company's stock valued at $44,455,000 after acquiring an additional 375,466 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Valaris Stock Down 1.4%

NYSE VAL traded down $0.73 during trading hours on Friday, hitting $52.09. 811,231 shares of the company traded hands, compared to its average volume of 1,101,531. The business's 50-day moving average is $48.52 and its 200-day moving average is $41.55. Valaris Limited has a twelve month low of $27.15 and a twelve month high of $57.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 13.57 and a beta of 1.17.

Valaris (NYSE:VAL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.16 by $0.45. Valaris had a return on equity of 12.36% and a net margin of 11.18%.The firm 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 firm posted $2.03 earnings per share. The business's quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

VAL has been the topic of a number of recent analyst reports. SEB Equity Research set a $45.50 price objective on Valaris in a research note on Monday, September 1st. Zacks Research upgraded Valaris from a "strong sell" rating to a "hold" rating in a report on Friday, September 5th. Clarkson Capital downgraded Valaris from a "buy" rating to a "neutral" rating and set a $54.00 price objective for the company. in a report on Tuesday, September 2nd. Citigroup reiterated a "neutral" rating and issued a $50.00 price objective (up previously from $47.00) on shares of Valaris in a report on Thursday, July 10th. Finally, Susquehanna upped their price objective on Valaris from $46.00 to $52.00 and gave the company a "neutral" rating in a report on Friday, August 1st. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $47.21.

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.