Pacer Advisors Inc. Decreases Stake in Valaris Limited $VAL

Key Points

• Pacer Advisors cut its Valaris stake by 94.4% in the first quarter, selling 126,152 shares and retaining 7,454 shares worth approximately $731,000. Institutional investors collectively own 96.74% of the company.
• Analyst sentiment remains cautious: eight analysts rate Valaris “Hold” and one rates it “Sell,” producing a consensus “Reduce” rating and an average price target of $60.94. Susquehanna raised its target to $80 while maintaining a neutral rating.
• Valaris reported quarterly EPS of $0.72, beating estimates of $0.31, and revenue of $539.2 million versus expectations of $488.52 million. However, revenue declined 12.4% year over year, and the stock opened at $85.36.

Pacer Advisors Inc. lessened its holdings in shares of Valaris Limited (NYSE:VAL - Free Report) by 94.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,454 shares of the company's stock after selling 126,152 shares during the period. Pacer Advisors Inc.'s holdings in Valaris were worth $731,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wexford Capital LP purchased a new position in Valaris in the 3rd quarter worth approximately $41,000. Parallel Advisors LLC grew its position in shares of Valaris by 33.5% in the first quarter. Parallel Advisors LLC now owns 1,065 shares of the company's stock valued at $104,000 after purchasing an additional 267 shares in the last quarter. Longview Financial Advisors Inc. acquired a new stake in shares of Valaris in the first quarter valued at approximately $105,000. Signaturefd LLC increased its holdings in shares of Valaris by 22.1% in the fourth quarter. Signaturefd LLC now owns 1,133 shares of the company's stock valued at $57,000 after purchasing an additional 205 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Valaris by 240.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company's stock worth $78,000 after buying an additional 1,308 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VAL shares. Susquehanna upped their target price on Valaris from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Friday. Weiss Ratings reiterated a "hold (c)" rating on shares of Valaris in a report on Monday, August 3rd. Eight analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $60.94.

Valaris Price Performance

VAL stock opened at $85.36 on Tuesday. Valaris Limited has a 52-week low of $43.53 and a 52-week high of $114.12. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.34. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 6.37 and a beta of 0.94. The business has a fifty day moving average of $79.92 and a two-hundred day moving average of $86.55.

Valaris (NYSE:VAL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.31 by $0.41. The business had revenue of $539.20 million for the quarter, compared to analyst estimates of $488.52 million. Valaris had a return on equity of 9.25% and a net margin of 43.95%.The company's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.61 EPS. As a group, research analysts anticipate that Valaris Limited will post 3.18 earnings per share for the current year.

Valaris Company Profile

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh‐environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.

Want to see what other hedge funds are holding VAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valaris Limited (NYSE:VAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source