Profund Advisors LLC Reduces Stock Holdings in Valaris Limited $VAL

Profund Advisors LLC lessened its stake in Valaris Limited (NYSE:VAL) by 13.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,766 shares of the company’s stock after selling 1,645 shares during the quarter. Profund Advisors LLC’s holdings in Valaris were worth $453,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Blume Capital Management Inc. lifted its position in shares of Valaris by 56.5% during the second quarter. Blume Capital Management Inc. now owns 665 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares in the last quarter. Fifth Third Bancorp grew its holdings in Valaris by 77.9% during the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $35,000 after purchasing an additional 360 shares in the last quarter. Signaturefd LLC increased its stake in Valaris by 45.4% during the 2nd quarter. Signaturefd LLC now owns 916 shares of the company’s stock worth $39,000 after buying an additional 286 shares during the period. Hantz Financial Services Inc. lifted its holdings in Valaris by 13,400.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,215 shares of the company’s stock worth $51,000 after buying an additional 1,206 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Valaris in the 2nd quarter worth $56,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on VAL shares. Citigroup raised their target price on Valaris from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded Valaris from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Zacks Research upgraded Valaris from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Susquehanna upped their target price on Valaris from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Finally, Fearnley Fonds cut Valaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.72.

Valaris Stock Performance

Valaris stock opened at $56.57 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.87 and a quick ratio of 1.87. Valaris Limited has a 12 month low of $27.15 and a 12 month high of $58.85. The company has a fifty day moving average price of $52.31 and a two-hundred day moving average price of $46.83. The company has a market cap of $3.94 billion, a PE ratio of 10.08 and a beta of 1.16.

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

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.