Valaris Limited $VAL Stake Trimmed by Hosking Partners LLP

Key Points

• Hosking Partners reduced its Valaris stake by 7.9% in the third quarter, selling 20,216 shares and retaining 234,944 shares valued at approximately $18.4 million. Institutional investors collectively own 96.74% of the company.
• Valaris reported quarterly EPS of $0.72, beating estimates of $0.31, while revenue of $539.2 million exceeded forecasts. However, revenue declined 12.4% year over year.
• Analyst sentiment remains cautious: six analysts rate the stock Hold and one rates it Sell, resulting in an average “Reduce” rating and an average price target of $67.80, below the reported share price of $91.77.

Hosking Partners LLP trimmed its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,944 shares of the company's stock after selling 20,216 shares during the quarter. Hosking Partners LLP owned 0.34% of Valaris worth $18,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. HBK Investments L P bought a new stake in shares of Valaris in the 2nd quarter worth $114,355,000. Whitebox Advisors LLC bought a new position in shares of Valaris during the first quarter valued at about $57,249,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Valaris by 67.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,363,230 shares of the company's stock valued at $133,651,000 after purchasing an additional 550,987 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its holdings in Valaris by 24.2% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,319,351 shares of the company's stock worth $129,349,000 after purchasing an additional 257,281 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Valaris by 66.2% during the first quarter. Sei Investments Co. now owns 399,805 shares of the company's stock worth $39,197,000 after purchasing an additional 159,304 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Valaris Stock Performance

Shares of VAL opened at $91.77 on Thursday. Valaris Limited has a 52-week low of $48.08 and a 52-week high of $114.12. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 6.85 and a beta of 1.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55. The stock's 50-day simple moving average is $84.79 and its 200 day simple moving average is $86.61.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.41. Valaris had a net margin of 43.95% and a return on equity of 9.25%. The company had revenue of $539.20 million during the quarter, compared to analyst estimates of $488.52 million. During the same period last year, the business earned $1.61 earnings per share. Valaris's revenue was down 12.4% compared to the same quarter last year. Research analysts forecast that Valaris Limited will post 3.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on VAL. Wall Street Zen raised shares of Valaris to a "hold" rating in a research report on Saturday, October 17th. Susquehanna lifted their target price on shares of Valaris from $80.00 to $86.00 and gave the stock a "neutral" rating in a research report on Monday, October 5th. Finally, Weiss Ratings upgraded Valaris from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 17th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $67.80.

Valaris Company Profile

Valaris plc is an offshore contract drilling company that provides drilling services to oil and gas operators worldwide. The company works with customers to support offshore exploration, appraisal and development programs in shallow-water and deepwater environments.

Valaris operates a fleet that includes drillships, semisubmersible rigs and jackup rigs. Its services include mobile offshore drilling, well construction support and related rig-management and operational services. The company's fleet is designed to serve a range of offshore projects, from conventional shelf developments to technically demanding deepwater wells.

With operations spanning major offshore energy regions, Valaris has served customers in areas including the Gulf of Mexico, the North Sea, Brazil, West Africa, the Middle East and the Asia-Pacific region.

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