HBK Investments L P purchased a new position in Valaris Limited (NYSE:VAL – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,575,143 shares of the company’s stock, valued at approximately $114,355,000. Valaris comprises approximately 1.1% of HBK Investments L P’s holdings, making the stock its 18th biggest position. HBK Investments L P owned about 2.27% of Valaris as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Whitebox Advisors LLC bought a new stake in Valaris during the 1st quarter valued at $57,249,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Valaris by 67.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,363,230 shares of the company’s stock worth $133,651,000 after buying an additional 550,987 shares during the period. Norges Bank bought a new position in shares of Valaris during the 4th quarter worth $23,581,000. Goehring & Rozencwajg Associates LLC grew its position in shares of Valaris by 24.2% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,319,351 shares of the company’s stock worth $129,349,000 after buying an additional 257,281 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Valaris by 66.2% during the first quarter. Sei Investments Co. now owns 399,805 shares of the company’s stock valued at $39,197,000 after buying an additional 159,304 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently weighed in on VAL. Susquehanna lifted their price objective on Valaris from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $66.60.
Valaris Stock Down 6.4%
NYSE:VAL traded down $5.65 during trading hours on Wednesday, reaching $82.58. The company’s stock had a trading volume of 1,248,781 shares, compared to its average volume of 1,215,081. The company has a market capitalization of $5.73 billion, a P/E ratio of 6.17 and a beta of 0.93. Valaris Limited has a 12 month low of $46.70 and a 12 month high of $114.12. 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 has a 50 day moving average price of $82.28 and a two-hundred day moving average price of $88.73.
Valaris (NYSE:VAL – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.41. Valaris had a return on equity of 9.25% and a net margin of 43.95%.The business had revenue of $539.20 million for the quarter, compared to analysts’ expectations of $488.52 million. During the same quarter last year, the firm earned $1.61 EPS. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. Equities analysts predict that Valaris Limited will post 3.25 EPS for the current fiscal year.
About Valaris
Valaris Limited (NYSE: VAL) is an offshore contract drilling company that provides drilling services to energy companies worldwide. The company supports exploration and production activities in offshore oil and natural gas fields, operating mobile offshore drilling units for customers under contract.
Valaris’ fleet includes drillships, semisubmersible rigs and jackup rigs. These units are designed for a range of offshore environments, from relatively shallow waters to deepwater and harsh-environment locations.
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