Teza Capital Management LLC Reduces Holdings in Valaris Limited $VAL

Key Points

• Teza Capital Management LLC significantly reduced its stake in Valaris Limited by 71.3% in the first quarter, selling 14,866 shares and leaving them with a total of 5,988 shares valued at approximately $235,000.
• Other institutional investors, including Lowe Wealth Advisors LLC and Covestor Ltd, also made notable adjustments to their holdings in Valaris during the same period, reflecting ongoing interest from hedge funds.
• Valaris reported quarterly earnings of $1.61 per share, exceeding estimates and marking a year-over-year revenue increase, contributing to a currently bullish outlook as analysts maintain a "Hold" rating with an average target price of $47.21.

Teza Capital Management LLC trimmed its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 71.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,988 shares of the company's stock after selling 14,866 shares during the quarter. Teza Capital Management LLC's holdings in Valaris were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lowe Wealth Advisors LLC purchased a new position in Valaris during the first quarter worth $28,000. UMB Bank n.a. purchased a new position in Valaris during the first quarter worth $44,000. GAMMA Investing LLC boosted its stake in Valaris by 1,027.5% during the first quarter. GAMMA Investing LLC now owns 1,353 shares of the company's stock worth $53,000 after buying an additional 1,233 shares during the period. Bayforest Capital Ltd boosted its stake in Valaris by 17.2% during the first 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. Finally, Covestor Ltd boosted its stake in Valaris by 73.4% during the first 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 hedge funds and other institutional investors.

Valaris Stock Performance

VAL stock opened at $51.15 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 1.81. The business has a 50-day moving average price of $48.09 and a 200 day moving average price of $41.26. The company has a market capitalization of $3.64 billion, a P/E ratio of 13.32 and a beta of 1.17. Valaris Limited has a 1-year low of $27.15 and a 1-year high of $57.90.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.45. The firm had revenue of $615.20 million during the quarter, compared to the consensus estimate of $582.70 million. Valaris had a return on equity of 12.36% and a net margin of 11.18%.The firm's quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 earnings per share. As a group, equities research analysts forecast that Valaris Limited will post 3.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on VAL. BTIG Research reaffirmed a "buy" rating on shares of Valaris in a research note on Monday, July 14th. Wall Street Zen upgraded Valaris from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. SEB Equity Research set a $45.50 target price on Valaris in a research report on Monday, September 1st. Susquehanna lifted their target price on Valaris from $46.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Finally, Citigroup reiterated a "neutral" rating and set a $50.00 target price (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 issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $47.21.

Valaris Company Profile

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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