Mountain Lake Investment Management LLC Purchases Shares of 22,900 Valaris Limited $VAL

Key Points

• Mountain Lake Investment Management LLC acquired 22,900 shares of Valaris Limited, representing a new investment valued at approximately $899,000, making it the firm's 22nd largest position.
• Valaris reported a quarterly earnings per share of $1.61, surpassing the analyst consensus estimate of $1.16, and showed a revenue increase to $615.20 million compared to the estimated $582.70 million.
• The stock currently holds a consensus rating of "Hold", with a target price range that has been adjusted by various analysts, indicating varied expectations among investors.

Mountain Lake Investment Management LLC acquired a new stake in Valaris Limited (NYSE:VAL - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 22,900 shares of the company's stock, valued at approximately $899,000. Valaris makes up 0.8% of Mountain Lake Investment Management LLC's portfolio, making the stock its 22nd largest holding.

Other institutional investors have also made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new position in shares of Valaris in the 1st quarter valued at approximately $28,000. UMB Bank n.a. bought a new position in shares of Valaris in the 1st quarter valued at approximately $44,000. GAMMA Investing LLC raised its stake in shares of Valaris by 1,027.5% in the 1st quarter. GAMMA Investing LLC now owns 1,353 shares of the company's stock valued at $53,000 after acquiring an additional 1,233 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of Valaris by 17.2% in the 1st quarter. Bayforest Capital Ltd now owns 1,920 shares of the company's stock valued at $75,000 after acquiring an additional 282 shares in the last quarter. Finally, Covestor Ltd increased its position in Valaris by 73.4% in the 1st quarter. Covestor Ltd now owns 3,313 shares of the company's stock worth $130,000 after buying an additional 1,402 shares during the period. 96.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on VAL. Susquehanna lifted their price target on Valaris from $46.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Clarkson Capital downgraded Valaris from a "buy" rating to a "neutral" rating and set a $54.00 price target on the stock. in a research report on Tuesday, September 2nd. Wall Street Zen raised Valaris from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Citigroup reaffirmed a "neutral" rating and issued a $50.00 price target (up from $47.00) on shares of Valaris in a research report on Thursday, July 10th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Valaris in a research report on Monday, July 14th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Valaris has an average rating of "Hold" and an average target price of $47.21.

Valaris Stock Performance

Shares of VAL traded up $0.08 on Thursday, reaching $52.76. 373,528 shares of the stock traded hands, compared to its average volume of 1,699,083. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 13.75 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 1.81. Valaris Limited has a 12 month low of $27.15 and a 12 month high of $57.90. The stock's 50-day moving average price is $48.23 and its 200-day moving average price is $41.34.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $582.70 million. Valaris had a return on equity of 12.36% and a net margin of 11.18%.Valaris's quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $2.03 earnings per share. Equities analysts forecast that Valaris Limited will post 3.96 EPS for the current fiscal year.

About Valaris

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.