Valaris Limited (NYSE:VAL) Shares Purchased 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. increased its stake in Valaris Limited (NYSE:VAL - Free Report) by 78.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,138 shares of the company's stock after acquiring an additional 14,565 shares during the period. Envestnet Asset Management Inc.'s holdings in Valaris were worth $1,301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VAL. Dimensional Fund Advisors LP boosted its position in Valaris by 55.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock valued at $101,771,000 after buying an additional 821,304 shares during the period. Norges Bank purchased a new stake in shares of Valaris during the fourth quarter worth about $31,949,000. Condire Management LP boosted its holdings in shares of Valaris by 34.1% during the fourth quarter. Condire Management LP now owns 2,618,678 shares of the company's stock worth $115,850,000 after purchasing an additional 665,718 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Valaris during the fourth quarter worth about $21,747,000. Finally, Waverton Investment Management Ltd boosted its holdings in shares of Valaris by 49.7% during the first quarter. Waverton Investment Management Ltd now owns 1,131,601 shares of the company's stock worth $44,455,000 after purchasing an additional 375,466 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Price Performance

Shares of Valaris stock traded up $0.27 during trading hours on Wednesday, reaching $48.04. The company's stock had a trading volume of 805,871 shares, compared to its average volume of 1,792,677. The firm has a 50 day moving average price of $45.42 and a 200-day moving average price of $41.02. Valaris Limited has a one year low of $27.15 and a one year high of $66.83. The stock has a market cap of $3.42 billion, a P/E ratio of 12.53 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 1.81.

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, topping analysts' consensus estimates of $1.16 by $0.45. The firm had revenue of $615.20 million for 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 earnings per share. On average, analysts predict that Valaris Limited will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Evercore ISI dropped their target price on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Citigroup reaffirmed 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. Barclays lifted their price objective on Valaris from $37.00 to $39.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Wall Street Zen raised Valaris to a "sell" rating in a research report on Tuesday, May 13th. Finally, Susquehanna lifted their price objective on Valaris from $46.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Valaris presently has a consensus rating of "Hold" and an average target price 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.