TLS Advisors LLC Acquires 24,000 Shares of Valaris Limited (NYSE:VAL)

Key Points

• TLS Advisors LLC has increased its stake in Valaris Limited by 85.7%, making it the 7th largest position in their portfolio with 52,000 shares valued at approximately $2,042,000.
• Valaris reported earnings of $1.61 per share, significantly surpassing the consensus estimate of $1.16, and had a revenue of $615.20 million for the quarter.
• The stock has been assigned an average rating of "Hold" with various price targets ranging from $46.00 to $55.00 from different analysts.

TLS Advisors LLC boosted its holdings in Valaris Limited (NYSE:VAL - Free Report) by 85.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,000 shares of the company's stock after acquiring an additional 24,000 shares during the period. Valaris accounts for 4.6% of TLS Advisors LLC's holdings, making the stock its 7th biggest position. TLS Advisors LLC owned about 0.07% of Valaris worth $2,042,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Covestor Ltd increased its position 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 acquiring an additional 1,402 shares during the period. Townsquare Capital LLC grew its position in Valaris by 120.3% during the first quarter. Townsquare Capital LLC now owns 16,972 shares of the company's stock worth $666,000 after buying an additional 9,267 shares in the last quarter. CenterBook Partners LP bought a new position in Valaris during the 1st quarter worth $775,000. RiverGlades Family Offices LLC raised its holdings in Valaris by 11.5% in the 1st quarter. RiverGlades Family Offices LLC now owns 5,800 shares of the company's stock valued at $228,000 after acquiring an additional 600 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Valaris by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 813,871 shares of the company's stock valued at $31,953,000 after acquiring an additional 20,278 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.

Valaris Price Performance

Shares of Valaris stock traded up $0.05 during midday trading on Tuesday, hitting $46.38. 1,386,887 shares of the company traded hands, compared to its average volume of 1,778,372. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 12.08 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.81. The firm's fifty day moving average price is $46.11 and its 200-day moving average price is $40.93. Valaris Limited has a 12 month low of $27.15 and a 12 month high of $65.68.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Evercore ISI decreased their price target on Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Barclays raised their target price on shares of Valaris from $37.00 to $39.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Wall Street Zen raised shares of Valaris to a "sell" rating in a report on Tuesday, May 13th. Fearnley Fonds cut shares of Valaris from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Citigroup restated a "neutral" rating and set a $50.00 price objective (up from $47.00) on shares of Valaris in a research report on Thursday, July 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Valaris has an average rating of "Hold" and a consensus price target of $46.20.

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.