LPL Financial LLC Has $1.48 Million Position in Valaris Limited $VAL

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 increased its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 76.5% during the 1st quarter, according to its most recent disclosure 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 0.05% of Valaris worth $1,477,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Condire Management LP increased its holdings in shares of Valaris by 34.1% during the fourth 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 period. Dimensional Fund Advisors LP grew its stake in Valaris by 55.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock valued at $101,771,000 after acquiring an additional 821,304 shares in the last quarter. Waverton Investment Management Ltd grew its stake in Valaris by 49.7% during the 1st 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 in the last quarter. Northern Trust Corp grew its stake in Valaris by 12.1% during the 4th quarter. Northern Trust Corp now owns 818,461 shares of the company's stock valued at $36,209,000 after acquiring an additional 88,160 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Valaris by 942.1% in the 4th quarter. AQR Capital Management LLC now owns 381,463 shares of the company's stock valued at $16,502,000 after buying an additional 344,857 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on VAL. Barclays boosted their price target on Valaris from $37.00 to $39.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded Valaris to a "sell" rating in a report on Tuesday, May 13th. Evercore ISI cut their target price on Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Susquehanna increased their price objective on Valaris from $46.00 to $52.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, BTIG Research reiterated a "buy" rating on shares of Valaris in a research note on Monday, July 14th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Valaris has a consensus rating of "Hold" and an average target price of $46.20.

Valaris Stock Down 0.8%

Shares of NYSE:VAL traded down $0.39 during trading on Tuesday, hitting $48.84. 865,615 shares of the company's stock traded hands, compared to its average volume of 1,745,460. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $63.68. 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 cap of $3.48 billion, a price-to-earnings ratio of 12.72 and a beta of 1.17. The company has a 50-day moving average price of $46.73 and a 200-day moving average price of $40.86.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.61 earnings per share 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 business had revenue of $615.20 million for the quarter, compared to analysts' expectations of $582.70 million. During the same quarter in the previous year, the business posted $2.03 EPS. Valaris's revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts forecast that Valaris Limited will post 3.96 EPS for the current fiscal 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.