NewEdge Advisors LLC Lowers Holdings in Valaris Limited $VAL

NewEdge Advisors LLC reduced its stake in shares of Valaris Limited (NYSE:VAL) by 35.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,844 shares of the company’s stock after selling 6,005 shares during the quarter. NewEdge Advisors LLC’s holdings in Valaris were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the company. Wexford Capital LP purchased a new position in Valaris during the 3rd quarter valued at approximately $41,000. EverSource Wealth Advisors LLC raised its holdings in shares of Valaris by 240.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company’s stock worth $78,000 after acquiring an additional 1,308 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Valaris during the 4th quarter valued at approximately $99,000. Parallel Advisors LLC boosted its position in shares of Valaris by 33.5% during the 1st quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $104,000 after acquiring an additional 267 shares during the last quarter. Finally, Longview Financial Advisors Inc. purchased a new position in shares of Valaris in the first quarter valued at $105,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VAL. Susquehanna boosted their price target on shares of Valaris from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research report on Monday, August 3rd. Eight investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Valaris currently has an average rating of “Reduce” and an average target price of $60.94.

Valaris Trading Up 1.8%

Shares of VAL stock opened at $87.17 on Tuesday. The company has a market cap of $6.05 billion, a PE ratio of 6.51 and a beta of 0.94. Valaris Limited has a 1 year low of $43.53 and a 1 year high of $114.12. The stock’s 50 day simple moving average is $79.38 and its two-hundred day simple moving average is $87.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.55.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, August 5th. The company reported $0.72 earnings per share 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 firm had revenue of $539.20 million for the quarter, compared to the consensus estimate of $488.52 million. During the same quarter in the previous year, the company posted $1.61 EPS. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts predict that Valaris Limited will post 3.18 earnings per share for the current year.

Valaris Profile

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.