NINE MASTS CAPITAL Ltd Decreases Stake in Valaris Limited $VAL

NINE MASTS CAPITAL Ltd cut its position in shares of Valaris Limited (NYSE:VAL) by 56.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,854 shares of the company’s stock after selling 35,000 shares during the period. NINE MASTS CAPITAL Ltd’s holdings in Valaris were worth $1,950,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Valaris during the 2nd quarter valued at approximately $42,000. Harbor Investment Advisory LLC purchased a new stake in Valaris during the second quarter valued at $46,000. Wexford Capital LP bought a new position in Valaris during the third quarter valued at $41,000. Parallel Advisors LLC grew its stake in shares of Valaris by 33.5% in the 1st quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $104,000 after buying an additional 267 shares in the last quarter. Finally, Longview Financial Advisors Inc. bought a new stake in shares of Valaris in the 1st quarter worth about $105,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Stock Performance

NYSE:VAL opened at $86.04 on Monday. The stock’s fifty day moving average is $79.61 and its 200 day moving average is $89.17. Valaris Limited has a fifty-two week low of $46.70 and a fifty-two week high of $114.12. The firm has a market capitalization of $5.97 billion, a PE ratio of 6.43 and a beta of 0.94. 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 (NYSE:VAL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.31 by $0.41. Valaris had a net margin of 43.95% and a return on equity of 9.25%. The company had revenue of $539.20 million during the quarter, compared to analyst estimates of $488.52 million. During the same period in the previous year, the firm earned $1.61 earnings per share. Valaris’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Valaris Limited will post 3.18 earnings per share for the current year.

Analysts Set New Price Targets

VAL has been the subject of a number of analyst reports. Susquehanna increased their price target on shares of Valaris from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Weiss Ratings raised Valaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Eight equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $60.94.

Valaris Company 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.