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 lifted its holdings in Valaris Limited (NYSE:VAL - Free Report) by 88.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,855 shares of the company's stock after buying an additional 31,320 shares during the period. Old West Investment Management LLC owned about 0.09% of Valaris worth $2,625,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quarry LP increased its holdings in shares of Valaris by 51.7% in the 4th quarter. Quarry LP now owns 684 shares of the company's stock worth $30,000 after buying an additional 233 shares during the last quarter. Lowe Wealth Advisors LLC bought a new stake in shares of Valaris in the 1st quarter worth about $28,000. UMB Bank n.a. bought a new stake in shares of Valaris in the 1st quarter worth about $44,000. GAMMA Investing LLC grew its holdings in Valaris by 1,027.5% during the 1st quarter. GAMMA Investing LLC now owns 1,353 shares of the company's stock valued at $53,000 after purchasing an additional 1,233 shares during the last quarter. Finally, Bayforest Capital Ltd grew its holdings in Valaris by 17.2% during the 1st quarter. Bayforest Capital Ltd now owns 1,920 shares of the company's stock valued at $75,000 after purchasing an additional 282 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Fearnley Fonds downgraded shares of Valaris from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. BTIG Research reiterated a "buy" rating on shares of Valaris in a report on Monday, July 14th. Wall Street Zen upgraded shares of Valaris from a "sell" rating to a "hold" rating in a report on Saturday. Barclays upped 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. Finally, Susquehanna upped their price target on shares of Valaris from $46.00 to $52.00 and gave the company a "neutral" rating in a report on Friday, August 1st. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $46.20.

Valaris Trading Up 1.2%

VAL stock traded up $0.60 during mid-day trading on Friday, reaching $49.72. The company had a trading volume of 724,718 shares, compared to its average volume of 1,253,949. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market capitalization of $3.54 billion, a PE ratio of 12.95 and a beta of 1.17. The firm has a 50 day moving average of $47.01 and a 200 day moving average of $40.97. Valaris Limited has a 12 month low of $27.15 and a 12 month high of $61.60.

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