Valueworks LLC Raises Stock Position in Valaris Limited $VAL

Key Points

• Valueworks LLC increased its stake in Valaris Limited by 21.2%, owning approximately 399,784 shares valued at around $15.7 million, making it the firm's 4th largest position.
• Valaris reported $1.61 EPS for the last quarter, surpassing analyst estimates of $1.16, and achieved a revenue of $615.20 million, slightly above the consensus of $582.70 million.
• Analyst ratings for Valaris vary, with one buy, six holds, and one sell, while the average price target is $46.20, indicating cautious optimism among market experts.

Valueworks LLC raised its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 21.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 399,784 shares of the company's stock after purchasing an additional 69,862 shares during the period. Valaris accounts for approximately 5.9% of Valueworks LLC's portfolio, making the stock its 4th largest holding. Valueworks LLC owned 0.56% of Valaris worth $15,696,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new stake in Valaris in the 1st quarter worth about $28,000. Quarry LP raised its holdings in Valaris by 51.7% during the 4th quarter. Quarry LP now owns 684 shares of the company's stock valued at $30,000 after acquiring an additional 233 shares during the period. Sterling Capital Management LLC lifted its position in shares of Valaris by 518.3% during the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock worth $33,000 after acquiring an additional 622 shares in the last quarter. UMB Bank n.a. purchased a new position in shares of Valaris in the first quarter valued at $44,000. Finally, GAMMA Investing LLC raised its stake in shares of 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 period. 96.74% of the stock is currently owned by institutional investors.

Valaris Price Performance

NYSE:VAL traded down $0.14 during mid-day trading on Thursday, reaching $49.15. The stock had a trading volume of 264,250 shares, compared to its average volume of 1,730,763. The stock has a market capitalization of $3.50 billion, a P/E ratio of 12.80 and a beta of 1.17. The firm has a 50 day moving average price of $46.85 and a two-hundred day moving average price of $40.97. 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 Limited has a one year low of $27.15 and a one year high of $61.60.

Valaris (NYSE:VAL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.61 EPS 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 for the quarter, compared to the consensus estimate of $582.70 million. During the same period last year, the firm posted $2.03 earnings per share. The business's revenue was up .8% compared to the same quarter last year. As a group, analysts expect that Valaris Limited will post 3.96 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VAL shares. Wall Street Zen upgraded Valaris to a "sell" rating in a research report on Tuesday, May 13th. Susquehanna upped their target price on shares of Valaris from $46.00 to $52.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. BTIG Research reissued a "buy" rating on shares of Valaris in a report on Monday, July 14th. Citigroup reaffirmed a "neutral" rating and issued a $50.00 price target (up previously from $47.00) on shares of Valaris in a report on Thursday, July 10th. Finally, Barclays increased their price objective on Valaris from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. 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 company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $46.20.

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.