Caitong International Asset Management Co. Ltd Takes $56,000 Position in Valaris Limited $VAL

Caitong International Asset Management Co. Ltd acquired a new stake in Valaris Limited (NYSE:VAL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,319 shares of the company’s stock, valued at approximately $56,000.

Other large investors have also made changes to their positions in the company. Blume Capital Management Inc. boosted its holdings in shares of Valaris by 56.5% in the 2nd quarter. Blume Capital Management Inc. now owns 665 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Valaris by 77.9% during the second quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock worth $35,000 after buying an additional 360 shares in the last quarter. Signaturefd LLC boosted its holdings in Valaris by 45.4% during the second quarter. Signaturefd LLC now owns 916 shares of the company’s stock worth $39,000 after buying an additional 286 shares in the last quarter. GAMMA Investing LLC raised its position in Valaris by 1,027.5% during the first quarter. GAMMA Investing LLC now owns 1,353 shares of the company’s stock worth $53,000 after acquiring an additional 1,233 shares during the period. Finally, Bayforest Capital Ltd raised its position in Valaris by 17.2% during the first quarter. Bayforest Capital Ltd now owns 1,920 shares of the company’s stock worth $75,000 after acquiring an additional 282 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VAL has been the subject of a number of research analyst reports. SEB Equity Research set a $45.50 price objective on shares of Valaris in a research report on Monday, September 1st. Susquehanna upped their price objective on shares of Valaris from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Barclays upped their price objective on shares of Valaris from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Weiss Ratings restated a “hold (c)” rating on shares of Valaris in a research report on Friday. Finally, BTIG Research restated a “buy” rating on shares of Valaris in a research report on Monday, July 14th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Valaris presently has an average rating of “Reduce” and an average target price of $48.69.

Valaris Price Performance

Shares of NYSE VAL opened at $56.73 on Friday. The firm has a 50-day simple moving average of $50.13 and a 200-day simple moving average of $44.46. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 14.77 and a beta of 1.15. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $58.14.

Valaris (NYSE:VAL) last issued its 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 during the quarter, compared to analysts’ expectations of $582.70 million. Valaris had a net margin of 11.18% and a return on equity of 12.36%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.03 earnings per share. On average, equities analysts predict that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Valaris Company Profile

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.