SummitTX Capital L.P. Acquires New Position in Valaris Limited $VAL

SummitTX Capital L.P. acquired a new stake in shares of Valaris Limited (NYSE:VAL) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,883 shares of the company’s stock, valued at approximately $1,067,000.

Other large investors have also bought and sold shares of the company. Wexford Capital LP purchased a new stake in shares of Valaris during the third quarter valued at approximately $41,000. Parallel Advisors LLC increased its position in shares of Valaris by 33.5% during the first quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $104,000 after acquiring an additional 267 shares in the last quarter. Longview Financial Advisors Inc. purchased a new position in Valaris in the 1st quarter worth approximately $105,000. Signaturefd LLC raised its holdings in Valaris by 22.1% in the 4th quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock worth $57,000 after acquiring an additional 205 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 acquiring an additional 1,308 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on VAL shares. Susquehanna reduced their target price on Valaris from $98.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Weiss Ratings downgraded Valaris from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Eight equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $60.31.

Valaris Stock Performance

Shares of VAL stock opened at $75.47 on Friday. The company has a 50 day moving average price of $82.25 and a 200-day moving average price of $85.32. Valaris Limited has a 52 week low of $43.53 and a 52 week high of $114.12. The firm has a market capitalization of $5.23 billion, a PE ratio of 5.28 and a beta of 0.93. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.34.

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