Quinn Opportunity Partners LLC Has $716,000 Stock Holdings in Valaris Limited $VAL

Quinn Opportunity Partners LLC trimmed its position in Valaris Limited (NYSE:VAL) by 48.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,000 shares of the company’s stock after selling 16,053 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in Valaris were worth $716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in shares of Valaris in the 1st quarter valued at $368,000. Principal Financial Group Inc. raised its stake in Valaris by 0.5% during the first quarter. Principal Financial Group Inc. now owns 151,942 shares of the company’s stock worth $5,965,000 after acquiring an additional 744 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Valaris by 78.4% in the first quarter. Envestnet Asset Management Inc. now owns 33,138 shares of the company’s stock worth $1,301,000 after acquiring an additional 14,565 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Valaris by 18.1% in the 1st quarter. M&T Bank Corp now owns 9,490 shares of the company’s stock valued at $373,000 after purchasing an additional 1,454 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Valaris by 11.3% during the 1st quarter. Victory Capital Management Inc. now owns 13,334 shares of the company’s stock worth $523,000 after purchasing an additional 1,354 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

Valaris Price Performance

VAL stock opened at $56.30 on Thursday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.44. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 10.03 and a beta of 1.16. The company’s fifty day simple moving average is $52.19 and its 200 day simple moving average is $46.76. Valaris Limited has a 12-month low of $27.15 and a 12-month high of $58.85.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $1.65. The firm had revenue of $595.70 million for the quarter, compared to analysts’ expectations of $568.41 million. Valaris had a return on equity of 17.27% and a net margin of 16.51%.Valaris’s revenue was down 7.4% compared to the same quarter last year. On average, analysts expect that Valaris Limited will post 3.96 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on VAL shares. Wall Street Zen upgraded shares of Valaris from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Zacks Research raised Valaris from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Barclays upped their target price on Valaris from $43.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Fearnley Fonds downgraded Valaris from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Valaris in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.72.

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.