Quinn Opportunity Partners LLC Sells 16,053 Shares of Valaris Limited $VAL

Quinn Opportunity Partners LLC decreased its stake in shares of Valaris Limited (NYSE:VAL) by 48.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,000 shares of the company’s stock after selling 16,053 shares during the period. Quinn Opportunity Partners LLC’s holdings in Valaris were worth $716,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VAL. Dalal Street LLC bought a new stake in shares of Valaris during the first quarter valued at approximately $56,046,000. Tensile Capital Management LP acquired a new position in Valaris during the 1st quarter worth $25,912,000. Moerus Capital Management LLC bought a new position in Valaris in the first quarter valued at about $18,314,000. Dimensional Fund Advisors LP increased its position in Valaris by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,761,369 shares of the company’s stock worth $108,412,000 after purchasing an additional 460,792 shares during the period. Finally, Jump Financial LLC acquired a new stake in Valaris in the first quarter worth about $6,907,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

VAL has been the subject of a number of analyst reports. Barclays lifted their target price on shares of Valaris from $43.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Valaris in a research report on Wednesday, October 8th. BTIG Research upped their target price on shares of Valaris from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Zacks Research raised shares of Valaris from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Fearnley Fonds downgraded Valaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.72.

Valaris Trading Down 3.3%

Valaris stock opened at $56.30 on Thursday. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $58.85. The stock has a 50-day simple moving average of $52.19 and a 200 day simple moving average of $46.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a market capitalization of $3.92 billion, a P/E ratio of 10.03 and a beta of 1.16.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, October 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $1.65. The firm had revenue of $595.70 million during the quarter, compared to analysts’ expectations of $568.41 million. Valaris had a net margin of 16.51% and a return on equity of 17.27%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. Analysts expect that Valaris Limited will post 3.96 earnings per share for the current 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.