Norges Bank Acquires Shares of 467,881 Valaris Limited $VAL

Norges Bank bought a new stake in shares of Valaris Limited (NYSE:VAL) during the fourth quarter, HoldingsChannel.com reports. The fund bought 467,881 shares of the company’s stock, valued at approximately $23,581,000.

A number of other hedge funds have also recently modified their holdings of VAL. Schf GPE LLC bought a new position in Valaris in the second quarter worth approximately $77,675,000. American Century Companies Inc. grew its stake in Valaris by 87.1% in the third quarter. American Century Companies Inc. now owns 1,274,038 shares of the company’s stock worth $62,135,000 after purchasing an additional 592,971 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in Valaris by 8,034.0% in the third quarter. ANTIPODES PARTNERS Ltd now owns 580,198 shares of the company’s stock worth $28,298,000 after purchasing an additional 573,065 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its stake in Valaris by 108.9% in the third quarter. Goehring & Rozencwajg Associates LLC now owns 902,440 shares of the company’s stock worth $44,012,000 after purchasing an additional 470,419 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Valaris by 212.8% in the third quarter. Ameriprise Financial Inc. now owns 470,076 shares of the company’s stock worth $22,926,000 after purchasing an additional 319,780 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Wall Street Analyst Weigh In

VAL has been the topic of several research analyst reports. Susquehanna increased their price objective on Valaris from $96.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 7th. Pareto Securities cut Valaris from a “hold” rating to a “sell” rating and set a $80.00 target price on the stock. in a research report on Monday, February 23rd. Weiss Ratings cut Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, BTIG Research cut Valaris from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Nine analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $63.19.

Valaris Stock Performance

Shares of VAL stock opened at $87.40 on Wednesday. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 6.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.55. The business has a fifty day moving average of $96.54 and a 200 day moving average of $78.89. Valaris Limited has a 1 year low of $41.03 and a 1 year high of $114.12.

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 analysts’ consensus estimates of ($0.05) by ($0.19). Valaris had a net margin of 45.37% and a return on equity of 12.31%. The company had revenue of $465.40 million for the quarter, compared to analysts’ expectations of $443.75 million. During the same quarter in the previous year, the business posted ($0.53) EPS. The business’s quarterly revenue was down 25.0% on a year-over-year basis. As a group, research analysts expect that Valaris Limited will post 3.18 earnings per share for the current year.

Valaris 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.