Platinum Investment Management Ltd. Sells 918,767 Shares of Valaris Limited $VAL

Platinum Investment Management Ltd. trimmed its position in Valaris Limited (NYSE:VAL) by 95.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,956 shares of the company’s stock after selling 918,767 shares during the period. Platinum Investment Management Ltd.’s holdings in Valaris were worth $2,316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wexford Capital LP bought a new stake in Valaris in the 3rd quarter valued at about $41,000. Signaturefd LLC increased its position in Valaris by 22.1% in the 4th quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock valued at $57,000 after buying an additional 205 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Valaris by 240.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company’s stock valued at $78,000 after buying an additional 1,308 shares in the last quarter. Leonteq Securities AG bought a new stake in Valaris in the 4th quarter valued at about $109,000. Finally, Hantz Financial Services Inc. boosted its stake in Valaris by 57.2% during the 4th quarter. Hantz Financial Services Inc. now owns 4,460 shares of the company’s stock valued at $225,000 after purchasing an additional 1,623 shares during the last quarter. 96.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VAL shares. Susquehanna lifted their price target on Valaris from $96.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, April 7th. Weiss Ratings downgraded Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. BTIG Research downgraded Valaris from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Pareto Securities downgraded Valaris from a “hold” rating to a “sell” rating and set a $80.00 price target for the company. in a research note on Monday, February 23rd. Nine equities 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, Valaris presently has an average rating of “Reduce” and a consensus price target of $63.19.

Valaris Price Performance

VAL stock opened at $90.02 on Friday. The company has a market capitalization of $6.23 billion, a P/E ratio of 6.30 and a beta of 0.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55. Valaris Limited has a 52-week low of $41.03 and a 52-week high of $114.12. The business has a 50-day simple moving average of $96.06 and a two-hundred day simple moving average of $79.47.

Valaris (NYSE:VAL) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). The company had revenue of $465.40 million for the quarter, compared to analyst estimates of $443.75 million. Valaris had a net margin of 45.37% and a return on equity of 12.31%. Valaris’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.53) EPS. Research analysts expect that Valaris Limited will post 3.18 EPS for the current fiscal year.

About Valaris

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh?environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.