Valaris Limited $VAL Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in Valaris Limited by 76.5% in Q1, owning approximately 0.05% of the company valued at $1,477,000.
• Valaris reported an EPS of $1.61 for the last quarter, surpassing analysts' expectations of $1.16, along with a revenue of $615.20 million.
• The stock has seen a 6.4% increase recently, with a current market capitalization of $3.50 billion and a target price consensus of $46.20 among analysts.

LPL Financial LLC boosted its holdings in Valaris Limited (NYSE:VAL - Free Report) by 76.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,629 shares of the company's stock after purchasing an additional 16,307 shares during the quarter. LPL Financial LLC owned about 0.05% of Valaris worth $1,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Condire Management LP raised its position in Valaris by 34.1% in the 4th quarter. Condire Management LP now owns 2,618,678 shares of the company's stock valued at $115,850,000 after purchasing an additional 665,718 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Valaris by 55.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock valued at $101,771,000 after purchasing an additional 821,304 shares during the last quarter. Waverton Investment Management Ltd raised its position in 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. Northern Trust Corp raised its position in Valaris by 12.1% during the 4th quarter. Northern Trust Corp now owns 818,461 shares of the company's stock worth $36,209,000 after buying an additional 88,160 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Valaris by 942.1% during the 4th quarter. AQR Capital Management LLC now owns 381,463 shares of the company's stock worth $16,502,000 after buying an additional 344,857 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Valaris Price Performance

Shares of VAL traded down $0.13 during trading hours on Thursday, reaching $49.16. The company had a trading volume of 591,335 shares, compared to its average volume of 1,331,804. The firm has a 50 day simple moving average of $46.92 and a 200-day simple moving average of $40.98. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 12.80 and a beta of 1.17. Valaris Limited has a 12-month low of $27.15 and a 12-month high of $61.60.

Valaris (NYSE:VAL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.45. The business had revenue of $615.20 million during the quarter, compared to the consensus estimate of $582.70 million. Valaris had a net margin of 11.18% and a return on equity of 12.36%. The business's revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.03 EPS. Research analysts expect that Valaris Limited will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

VAL has been the subject of a number of analyst reports. Susquehanna upped their price objective on shares of Valaris from $46.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Barclays upped their price objective on shares of Valaris from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Citigroup restated a "neutral" rating and set a $50.00 price objective (up previously from $47.00) on shares of Valaris in a research report on Thursday, July 10th. BTIG Research restated a "buy" rating on shares of Valaris in a research report on Monday, July 14th. Finally, Fearnley Fonds downgraded shares of Valaris from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $46.20.

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.