Deuterium Capital Management LLC bought a new stake in Valaris Limited (NYSE:VAL – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,200 shares of the company’s stock, valued at approximately $201,000.
Several other institutional investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in shares of Valaris by 7.8% in the second quarter. PNC Financial Services Group Inc. now owns 3,635 shares of the company’s stock worth $229,000 after acquiring an additional 263 shares during the last quarter. Northern Trust Corp boosted its holdings in Valaris by 5.0% in the 2nd quarter. Northern Trust Corp now owns 770,421 shares of the company’s stock valued at $48,483,000 after purchasing an additional 36,893 shares during the period. ExodusPoint Capital Management LP grew its position in Valaris by 22.9% in the 2nd quarter. ExodusPoint Capital Management LP now owns 131,839 shares of the company’s stock worth $8,297,000 after purchasing an additional 24,554 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Valaris by 7.0% during the 2nd quarter. ProShare Advisors LLC now owns 11,502 shares of the company’s stock worth $724,000 after purchasing an additional 753 shares during the period. Finally, Profund Advisors LLC raised its position in shares of Valaris by 2.4% during the second quarter. Profund Advisors LLC now owns 12,888 shares of the company’s stock valued at $811,000 after buying an additional 302 shares during the last quarter. 89.57% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
VAL has been the topic of a number of recent research reports. Barclays raised Valaris from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $84.00 to $106.00 in a research report on Thursday, November 9th. TheStreet cut Valaris from a “b-” rating to a “c” rating in a research report on Wednesday, August 2nd. Benchmark reaffirmed a “buy” rating and issued a $90.00 target price on shares of Valaris in a research report on Tuesday, November 7th. Finally, Citigroup lowered their price target on shares of Valaris from $113.00 to $103.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.25.
Valaris Price Performance
Shares of VAL traded down $0.33 during mid-day trading on Tuesday, reaching $66.85. The company had a trading volume of 175,253 shares, compared to its average volume of 910,788. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.39 and a quick ratio of 2.39. The company has a market capitalization of $4.87 billion, a P/E ratio of 87.25 and a beta of 1.32. Valaris Limited has a twelve month low of $54.13 and a twelve month high of $80.00. The company’s 50-day moving average is $70.94 and its 200-day moving average is $68.25.
Valaris (NYSE:VAL – Get Free Report) last released its quarterly earnings data on Monday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $455.10 million for the quarter. Valaris had a return on equity of 5.24% and a net margin of 3.43%.
Valaris Limited provides offshore contract drilling services to the international oil and gas industry. The company owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs. It serves international, government-owned, and independent oil and gas companies in the Gulf of Mexico, South America, the North Sea, the Middle East, Africa, and Asia Pacific.
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