Principal Financial Group Inc. Increases Stake in Valaris Limited $VAL

Key Points

• Principal Financial Group increased its Valaris stake by 31.4% in the first quarter, buying 44,016 additional shares and lifting its holdings to 184,082 shares worth about $18.0 million.
• Valaris reported a mixed latest quarter, with earnings of -$0.24 per share versus expectations for a smaller loss, while revenue of $465.4 million came in above estimates but was down 25% from a year earlier.
• Wall Street sentiment remains cautious: analysts currently assign Valaris mostly Hold ratings, with an average price target of $60.31, below the stock’s recent trading level of $78.92.

Principal Financial Group Inc. grew its stake in shares of Valaris Limited (NYSE:VAL - Free Report) by 31.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,082 shares of the company's stock after buying an additional 44,016 shares during the period. Principal Financial Group Inc. owned 0.27% of Valaris worth $18,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of VAL. Wexford Capital LP purchased a new position in shares of Valaris during the third quarter valued at about $41,000. Longview Financial Advisors Inc. purchased a new stake in shares of Valaris in the first quarter worth about $105,000. Signaturefd LLC boosted its stake in Valaris by 22.1% during the fourth quarter. Signaturefd LLC now owns 1,133 shares of the company's stock valued at $57,000 after buying an additional 205 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Valaris by 240.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company's stock valued at $78,000 after buying an additional 1,308 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Valaris during the 4th quarter valued at approximately $99,000. Institutional investors own 96.74% of the company's stock.

Valaris Stock Up 1.1%

Shares of NYSE VAL opened at $78.92 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34. Valaris Limited has a 12-month low of $43.53 and a 12-month high of $114.12. The firm's 50-day moving average price is $85.88 and its 200-day moving average price is $84.28. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 5.53 and a beta of 0.93.

Valaris (NYSE:VAL - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.19). The company had revenue of $465.40 million for the quarter, compared to the consensus estimate of $443.75 million. Valaris had a return on equity of 12.31% and a net margin of 45.37%.The company's revenue was down 25.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.53) earnings per share. On average, equities research analysts anticipate that Valaris Limited will post 3.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings downgraded Valaris from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Susquehanna lowered their target price on Valaris from $98.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, July 8th. Nine research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Valaris presently has an average rating of "Reduce" and an average price target of $60.31.

Valaris 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.

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