First Trust Advisors LP Buys 9,628 Shares of Valaris Limited $VAL

First Trust Advisors LP lifted its stake in shares of Valaris Limited (NYSE:VAL) by 12.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,452 shares of the company’s stock after buying an additional 9,628 shares during the quarter. First Trust Advisors LP’s holdings in Valaris were worth $8,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wexford Capital LP bought a new position in Valaris in the third quarter worth about $41,000. Signaturefd LLC boosted its position in Valaris by 22.1% during the 4th quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock valued at $57,000 after acquiring an additional 205 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Valaris by 240.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company’s stock worth $78,000 after acquiring an additional 1,308 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Valaris during the 4th quarter worth approximately $99,000. Finally, Parallel Advisors LLC raised its position in shares of Valaris by 33.5% in the 1st quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $104,000 after acquiring an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Trading Up 4.9%

Shares of NYSE VAL opened at $79.25 on Friday. Valaris Limited has a 1 year low of $43.53 and a 1 year high of $114.12. The stock has a market cap of $5.49 billion, a P/E ratio of 5.55 and a beta of 0.93. The firm has a 50-day moving average of $81.81 and a 200 day moving average of $85.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.55.

Valaris (NYSE:VAL) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.19). The business had revenue of $465.40 million for the quarter, compared to the consensus estimate of $443.75 million. Valaris had a return on equity of 12.31% and a net margin of 45.37%.The company’s revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.53) EPS. As a group, sell-side analysts expect that Valaris Limited will post 3.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Susquehanna lowered their target price on Valaris from $98.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. Weiss Ratings cut Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Eight investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Valaris currently has a consensus rating of “Reduce” and an average target price of $60.31.

About Valaris

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh‐environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.