Charles Schwab Investment Management Inc. Grows Holdings in Valaris Limited $VAL

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% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 813,871 shares of the company's stock after acquiring an additional 20,278 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.15% of Valaris worth $31,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of VAL. Privium Fund Management B.V. lifted its stake in shares of Valaris by 42.6% during the first quarter. Privium Fund Management B.V. now owns 20,222 shares of the company's stock worth $794,000 after buying an additional 6,040 shares during the period. Bayforest Capital Ltd lifted its stake in shares of 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. Dauntless Investment Group LLC lifted its stake in shares of Valaris by 78.5% during the first quarter. Dauntless Investment Group LLC now owns 19,505 shares of the company's stock worth $766,000 after buying an additional 8,580 shares during the period. Corton Capital Inc. acquired a new stake in shares of Valaris during the first quarter worth $292,000. Finally, LPL Financial LLC lifted its stake in shares of Valaris by 76.5% during the first quarter. LPL Financial LLC now owns 37,629 shares of the company's stock worth $1,477,000 after buying an additional 16,307 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Valaris Stock Performance

NYSE VAL traded up $0.0310 on Monday, reaching $49.2010. 942,780 shares of the company's stock traded hands, compared to its average volume of 1,417,392. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 12.81 and a beta of 1.17. The stock has a 50 day moving average price of $46.73 and a 200-day moving average price of $40.86. Valaris Limited has a fifty-two week low of $27.15 and a fifty-two week high of $65.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.81.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VAL shares. Susquehanna lifted their price objective on shares of Valaris from $46.00 to $52.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Citigroup reiterated a "neutral" rating and set a $50.00 price objective (up from $47.00) on shares of Valaris in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of Valaris to a "sell" rating in a research note on Tuesday, May 13th. Evercore ISI lowered their price objective on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Finally, BTIG Research restated a "buy" rating on shares of Valaris in a research report on Monday, July 14th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average 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.