Mountain Lake Investment Management LLC Buys New Position in 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 purchased a new stake in shares of Valaris Limited (NYSE:VAL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,900 shares of the company's stock, valued at approximately $899,000. Valaris comprises approximately 0.8% of Mountain Lake Investment Management LLC's portfolio, making the stock its 22nd biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Valaris by 20.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,761,369 shares of the company's stock worth $108,412,000 after purchasing an additional 460,792 shares during the period. Dalal Street LLC purchased a new stake in shares of Valaris during the 1st quarter valued at approximately $56,046,000. Waverton Investment Management Ltd raised 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 valued at $44,455,000 after buying an additional 375,466 shares during the period. Northern Trust Corp lifted its holdings in Valaris by 12.1% in the fourth 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Valaris by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 813,871 shares of the company's stock worth $31,953,000 after acquiring an additional 20,278 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BTIG Research restated a "buy" rating on shares of Valaris in a research report on Monday, July 14th. Wall Street Zen raised shares of Valaris from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. 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 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. Finally, Citigroup restated a "neutral" rating and set a $50.00 price target (up from $47.00) on shares of Valaris in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Valaris has an average rating of "Hold" and a consensus target price of $47.21.

Valaris Stock Up 2.6%

Shares of Valaris stock traded up $1.35 during trading hours on Wednesday, reaching $52.54. 1,180,066 shares of the company were exchanged, compared to its average volume of 1,706,919. The firm has a market cap of $3.74 billion, a PE ratio of 13.68 and a beta of 1.17. The stock's fifty day moving average is $48.09 and its 200 day moving average is $41.26. Valaris Limited has a 1 year low of $27.15 and a 1 year 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.

Valaris (NYSE:VAL - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.16 by $0.45. The firm had revenue of $615.20 million during 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 revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 EPS. As a group, equities research analysts forecast that Valaris Limited will post 3.96 earnings per share for the current 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.