Valaris Limited $VAL Shares Bought by Old West Investment Management LLC

Key Points

• Old West Investment Management LLC increased its stake in Valaris Limited by 88.1%, owning approximately 0.09% of the company, valued at $2.625 million after acquiring an additional 31,320 shares in the first quarter.
• Valaris shares opened at $49.1530 and have a 52-week range of $27.15 to $65.68, with a market capitalization of $3.50 billion and a PE ratio of 12.80.
• Valaris reported $1.61 EPS for the last quarter, exceeding analysts' expectations of $1.16, and posted revenues of $615.20 million, slightly above the forecasted $582.70 million.

Old West Investment Management LLC boosted its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 88.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,855 shares of the company's stock after buying an additional 31,320 shares during the quarter. Old West Investment Management LLC owned approximately 0.09% of Valaris worth $2,625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP grew its position in Valaris by 51.7% during the fourth quarter. Quarry LP now owns 684 shares of the company's stock valued at $30,000 after buying an additional 233 shares during the period. Bayforest Capital Ltd grew its position in Valaris by 17.2% during the first quarter. Bayforest Capital Ltd now owns 1,920 shares of the company's stock valued at $75,000 after buying an additional 282 shares during the period. Kestra Private Wealth Services LLC grew its position in Valaris by 8.4% during the first quarter. Kestra Private Wealth Services LLC now owns 7,283 shares of the company's stock valued at $286,000 after buying an additional 564 shares during the period. Nuveen Asset Management LLC grew its position in Valaris by 0.3% during the fourth quarter. Nuveen Asset Management LLC now owns 184,318 shares of the company's stock valued at $8,154,000 after buying an additional 588 shares during the period. Finally, RiverGlades Family Offices LLC grew its position in Valaris by 11.5% during the first quarter. RiverGlades Family Offices LLC now owns 5,800 shares of the company's stock valued at $228,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on VAL shares. 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 research report on Thursday, July 10th. BTIG Research restated a "buy" rating on shares of Valaris in a research report on Monday, July 14th. Susquehanna upped their price objective on shares of Valaris from $46.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Fearnley Fonds cut shares of Valaris from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, Evercore ISI reduced 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 report on Friday, May 2nd. One equities research 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $46.20.

Valaris Stock Up 6.4%

Shares of VAL opened at $49.1530 on Monday. Valaris Limited has a 52-week low of $27.15 and a 52-week high of $65.68. The company has a market capitalization of $3.50 billion, a PE ratio of 12.80 and a beta of 1.17. The stock has a fifty day simple moving average of $46.68 and a two-hundred day simple moving average of $40.84. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.46.

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

About Valaris

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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