Valaris Limited $VAL Position Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of Valaris Limited (NYSE:VAL) by 22.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,649 shares of the company’s stock after selling 13,443 shares during the period. The Manufacturers Life Insurance Company’s holdings in Valaris were worth $4,573,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of VAL. Wexford Capital LP bought a new position in shares of Valaris during the third quarter worth about $41,000. Parallel Advisors LLC increased its holdings in Valaris by 33.5% in the first quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $104,000 after buying an additional 267 shares during the last quarter. Longview Financial Advisors Inc. bought a new stake in Valaris in the first quarter valued at about $105,000. Signaturefd LLC raised its stake in Valaris by 22.1% during the fourth quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock valued at $57,000 after buying an additional 205 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Valaris by 240.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company’s stock valued at $78,000 after buying an additional 1,308 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Price Performance

Shares of NYSE:VAL opened at $77.42 on Friday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 5.78 and a beta of 0.94. Valaris Limited has a 1 year low of $43.53 and a 1 year high of $114.12. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $80.36 and a 200 day simple moving average of $86.15.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.41. Valaris had a net margin of 43.95% and a return on equity of 9.48%. The firm had revenue of $539.20 million for the quarter, compared to analyst estimates of $488.52 million. During the same quarter last year, the firm earned $1.61 earnings per share. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, sell-side analysts predict that Valaris Limited will post 3.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VAL has been the subject of several research reports. Susquehanna decreased their target price on Valaris from $98.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a report on Monday. Eight equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $60.31.

Valaris Company Profile

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.