Polar Asset Management Partners Inc. Invests $1.96 Million in Valaris Limited $VAL

Polar Asset Management Partners Inc. bought a new position in shares of Valaris Limited (NYSE:VAL) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $1,961,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Valaris by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,349,443 shares of the company’s stock valued at $328,382,000 after buying an additional 114,730 shares during the last quarter. Schf GPE LLC bought a new stake in Valaris during the 2nd quarter worth about $77,675,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Valaris by 67.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,363,230 shares of the company’s stock worth $133,651,000 after buying an additional 550,987 shares during the last quarter. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Valaris by 24.2% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,319,351 shares of the company’s stock worth $129,349,000 after buying an additional 257,281 shares during the last quarter. Finally, FIL Ltd grew its holdings in shares of Valaris by 10.4% in the 4th quarter. FIL Ltd now owns 1,220,279 shares of the company’s stock valued at $61,502,000 after acquiring an additional 114,967 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

VAL has been the topic of a number of recent research reports. Susquehanna lowered their target price on Valaris from $98.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings downgraded Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Nine research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Valaris currently has an average rating of “Reduce” and an average price target of $60.31.

Valaris Stock Performance

Shares of VAL stock opened at $78.60 on Tuesday. The company has a fifty day moving average price of $84.20 and a two-hundred day moving average price of $84.84. Valaris Limited has a one year low of $43.53 and a one year high of $114.12. The stock has a market cap of $5.44 billion, a P/E ratio of 5.50 and a beta of 0.93. 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 released its quarterly earnings data on Monday, May 4th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.19). The firm had revenue of $465.40 million for the quarter, compared to analyst estimates of $443.75 million. Valaris had a return on equity of 12.31% and a net margin of 45.37%.The firm’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. As a group, equities analysts predict that Valaris Limited will post 3.18 EPS for the current year.

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.