Patriot Financial Group Insurance Agency LLC Makes New $309,000 Investment in Valaris Limited $VAL

Key Points

• Patriot Financial Group Insurance Agency LLC invested approximately $309,000 in Valaris Limited during the 2nd quarter, acquiring 7,331 shares of the company.
• Valaris has received various target price adjustments from analysts, with estimates ranging from $45.50 to $55.00, and a consensus rating of "Hold".
• The company reported $1.61 EPS for the previous quarter, exceeding analyst expectations and demonstrating a 0.8% year-over-year revenue growth.

Patriot Financial Group Insurance Agency LLC acquired a new position in Valaris Limited (NYSE:VAL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,331 shares of the company's stock, valued at approximately $309,000.

Several other hedge funds have also bought and sold shares of VAL. Bayforest Capital Ltd raised its stake in shares of Valaris by 17.2% during the 1st quarter. Bayforest Capital Ltd now owns 1,920 shares of the company's stock worth $75,000 after buying an additional 282 shares during the period. Signaturefd LLC raised its stake in shares of Valaris by 45.4% during the 2nd quarter. Signaturefd LLC now owns 916 shares of the company's stock worth $39,000 after buying an additional 286 shares during the period. Fifth Third Bancorp raised its stake in shares of Valaris by 77.9% during the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company's stock worth $35,000 after buying an additional 360 shares during the period. Moody National Bank Trust Division raised its stake in shares of Valaris by 4.8% during the 2nd quarter. Moody National Bank Trust Division now owns 9,645 shares of the company's stock worth $406,000 after buying an additional 438 shares during the period. Finally, Fermata Advisors LLC raised its stake in shares of Valaris by 8.9% during the 2nd quarter. Fermata Advisors LLC now owns 6,133 shares of the company's stock worth $258,000 after buying an additional 501 shares during the period. Hedge funds and other institutional investors own 96.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VAL. SEB Equity Research set a $45.50 target price on Valaris in a research note on Monday, September 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Valaris in a research note on Saturday, September 27th. Capital One Financial set a $55.00 target price on Valaris in a research note on Monday, September 15th. Zacks Research raised Valaris from a "strong sell" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Susquehanna raised their price objective on Valaris from $46.00 to $52.00 and gave the company a "neutral" rating in a report on Friday, August 1st. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $48.19.

Valaris Stock Up 3.5%

Shares of VAL opened at $51.95 on Friday. Valaris Limited has a 52-week low of $27.15 and a 52-week high of $57.45. The company has a market capitalization of $3.70 billion, a PE ratio of 13.53 and a beta of 1.15. The stock has a fifty day simple moving average of $49.25 and a two-hundred day simple moving average of $43.04. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.46.

Valaris (NYSE:VAL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $582.70 million. During the same period last year, the company earned $2.03 EPS. The company's revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts forecast that Valaris Limited will post 3.96 EPS 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.

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