Van Lanschot Kempen Investment Management N.V. Reduces Stake in Valaris Limited $VAL

Van Lanschot Kempen Investment Management N.V. reduced its position in Valaris Limited (NYSE:VAL) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,775 shares of the company’s stock after selling 1,628 shares during the period. Van Lanschot Kempen Investment Management N.V.’s holdings in Valaris were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lowe Wealth Advisors LLC purchased a new position in shares of Valaris in the 1st quarter worth $28,000. Quarry LP raised its holdings in Valaris by 51.7% in the 4th quarter. Quarry LP now owns 684 shares of the company’s stock worth $30,000 after purchasing an additional 233 shares during the period. Sterling Capital Management LLC raised its holdings in Valaris by 518.3% in the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock worth $33,000 after purchasing an additional 622 shares during the period. UMB Bank n.a. bought a new position in Valaris in the 1st quarter worth $44,000. Finally, GAMMA Investing LLC raised its holdings in Valaris by 1,027.5% in the 1st quarter. GAMMA Investing LLC now owns 1,353 shares of the company’s stock worth $53,000 after purchasing an additional 1,233 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Price Performance

NYSE:VAL opened at $45.0280 on Thursday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. The business’s 50-day simple moving average is $46.62 and its two-hundred day simple moving average is $40.92. The stock has a market cap of $3.21 billion, a PE ratio of 11.73 and a beta of 1.17. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $65.68.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.45. The business had revenue of $615.20 million for the quarter, compared to analysts’ expectations of $582.70 million. Valaris had a return on equity of 12.36% and a net margin of 11.18%.The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $2.03 earnings per share. As a group, analysts forecast that Valaris Limited will post 3.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on VAL shares. Susquehanna raised their target price on Valaris from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Evercore ISI decreased their target price on Valaris from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Barclays raised their target price on Valaris from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. BTIG Research reaffirmed a “buy” rating on shares of Valaris in a report on Monday, July 14th. Finally, Fearnley Fonds cut Valaris from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.20.

About Valaris

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.