Valaris Limited $VAL Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Valaris Limited by 2.6% to 813,871 shares, representing a value of approximately $31.95 million.
• Multiple institutional investors, including Condire Management LP and Dimensional Fund Advisors LP, made significant increases to their holdings in Valaris, resulting in institutional ownership reaching 96.74% of the company's stock.
• Valaris reported strong earnings, with a quarterly earnings per share of $1.61 that exceeded estimates, and a revenue of $615.2 million, up 0.8% year-over-year.

Charles Schwab Investment Management Inc. raised its position in Valaris Limited (NYSE:VAL - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 813,871 shares of the company's stock after purchasing an additional 20,278 shares during the period. Charles Schwab Investment Management Inc. owned about 1.15% of Valaris worth $31,953,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Condire Management LP increased its holdings in Valaris by 34.1% in the 4th quarter. Condire Management LP now owns 2,618,678 shares of the company's stock valued at $115,850,000 after purchasing an additional 665,718 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Valaris by 55.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock worth $101,771,000 after buying an additional 821,304 shares during the period. Waverton Investment Management Ltd boosted its position in shares of Valaris by 49.7% in the first quarter. Waverton Investment Management Ltd now owns 1,131,601 shares of the company's stock worth $44,455,000 after buying an additional 375,466 shares during the period. Northern Trust Corp grew its stake in shares of Valaris by 12.1% in the fourth quarter. Northern Trust Corp now owns 818,461 shares of the company's stock valued at $36,209,000 after buying an additional 88,160 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Valaris by 942.1% during the 4th quarter. AQR Capital Management LLC now owns 381,463 shares of the company's stock valued at $16,502,000 after buying an additional 344,857 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on VAL. Evercore ISI decreased their price target on Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Fearnley Fonds downgraded shares of Valaris from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Barclays raised their price target 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. BTIG Research reaffirmed a "buy" rating on shares of Valaris in a research note on Monday, July 14th. Finally, Wall Street Zen raised shares of Valaris to a "sell" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $46.20.

Valaris Stock Performance

VAL stock opened at $44.2830 on Wednesday. The stock's 50 day simple moving average is $46.63 and its 200 day simple moving average is $40.89. Valaris Limited has a 12-month low of $27.15 and a 12-month high of $65.68. The firm has a market cap of $3.15 billion, a P/E ratio of 11.53 and a beta of 1.17. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.46.

Valaris (NYSE:VAL - Get Free Report) last released its earnings results 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 analyst estimates of $582.70 million. Valaris had a net margin of 11.18% and a return on equity of 12.36%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 earnings per share. As a group, equities research analysts predict that Valaris Limited will post 3.96 EPS for the current year.

Valaris 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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