Jennison Associates LLC Decreases Holdings in Valaris Limited $VAL

Jennison Associates LLC reduced its position in Valaris Limited (NYSE:VAL) by 58.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 7,568 shares of the company’s stock after selling 10,451 shares during the period. Jennison Associates LLC’s holdings in Valaris were worth $742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wexford Capital LP acquired a new stake in shares of Valaris in the 3rd quarter worth $41,000. Signaturefd LLC grew its stake in Valaris by 22.1% during the 4th quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock worth $57,000 after buying an additional 205 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Valaris by 240.0% during the 2nd 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. Aster Capital Management DIFC Ltd acquired a new position in Valaris during the 4th quarter valued at about $99,000. Finally, Longview Financial Advisors Inc. purchased a new stake in Valaris in the first quarter valued at about $105,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Trading Up 1.1%

NYSE:VAL opened at $78.92 on Thursday. Valaris Limited has a 12 month low of $43.53 and a 12 month high of $114.12. The firm has a fifty day simple moving average of $85.88 and a 200-day simple moving average of $84.28. 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 company has a market capitalization of $5.47 billion, a P/E ratio of 5.53 and a beta of 0.93.

Valaris (NYSE:VAL) last released its earnings results on Monday, May 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.19). The firm had revenue of $465.40 million during the quarter, compared to analyst estimates of $443.75 million. Valaris had a net margin of 45.37% and a return on equity of 12.31%. Valaris’s revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.53) earnings per share. On average, equities research analysts anticipate that Valaris Limited will post 3.18 earnings per share for the current year.

Wall Street Analyst Weigh In

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