Valaris Limited $VAL Shares Sold by Profund Advisors LLC

Profund Advisors LLC reduced its stake in shares of Valaris Limited (NYSE:VAL) by 13.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

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

Analyst Ratings Changes

Several equities research analysts have commented on VAL shares. Zacks Research upgraded shares of Valaris from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Citigroup raised their target price on Valaris from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Susquehanna boosted their price target on Valaris from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Clarkson Capital cut Valaris from a “buy” rating to a “neutral” rating and set a $54.00 price target for the company. in a research note on Tuesday, September 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Valaris in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.72.

Valaris Price Performance

Shares of NYSE VAL opened at $56.57 on Friday. Valaris Limited has a twelve month low of $27.15 and a twelve month high of $58.85. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average of $52.31 and a two-hundred day moving average of $46.83. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 10.08 and a beta of 1.16.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. As a group, analysts expect that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Valaris 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.