Valaris Limited (NYSE:VAL) Shares Acquired by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. increased its position in Valaris Limited (NYSE:VAL) by 78.4%, acquiring a total of 33,138 shares valued at approximately $1.3 million.
• Institutional investors now hold 96.74% of Valaris' stock, reflecting significant interest from multiple hedge funds during recent quarters.
• Valaris reported earnings of $1.61 EPS for the latest quarter, exceeding estimates by $0.45, alongside revenue of $615.20 million, indicating strong financial performance.

Envestnet Asset Management Inc. raised its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 78.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,138 shares of the company's stock after purchasing an additional 14,565 shares during the period. Envestnet Asset Management Inc.'s holdings in Valaris were worth $1,301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC bought a new stake in shares of Valaris during the first quarter valued at approximately $28,000. Quarry LP increased its position in Valaris by 51.7% in the 4th quarter. Quarry LP now owns 684 shares of the company's stock valued at $30,000 after acquiring an additional 233 shares during the period. Sterling Capital Management LLC raised its stake in Valaris by 518.3% during the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock valued at $33,000 after acquiring an additional 622 shares in the last quarter. UMB Bank n.a. acquired a new position in Valaris during the 1st quarter worth $44,000. Finally, GAMMA Investing LLC grew its stake in shares of Valaris by 1,027.5% in the first quarter. GAMMA Investing LLC now owns 1,353 shares of the company's stock worth $53,000 after purchasing an additional 1,233 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Valaris from $37.00 to $39.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Evercore ISI dropped their price target on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Citigroup reaffirmed a "neutral" rating and issued a $50.00 price target (up from $47.00) on shares of Valaris in a research note on Thursday, July 10th. Susquehanna raised their price objective on shares of Valaris from $46.00 to $52.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Wall Street Zen raised Valaris to a "sell" rating in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Valaris currently has an average rating of "Hold" and a consensus price target of $53.50.

Valaris Stock Performance

NYSE:VAL opened at $45.21 on Friday. The company has a 50-day moving average of $45.05 and a 200-day moving average of $41.10. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 11.77 and a beta of 1.17. The company has a current ratio of 1.81, a quick ratio of 1.67 and a debt-to-equity ratio of 0.46. Valaris Limited has a twelve month low of $27.15 and a twelve month high of $72.00.

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

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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