Blume Capital Management Inc. Has $28,000 Position in Valaris Limited $VAL

Blume Capital Management Inc. raised its holdings in shares of Valaris Limited (NYSE:VAL) by 56.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 665 shares of the company’s stock after purchasing an additional 240 shares during the quarter. Blume Capital Management Inc.’s holdings in Valaris were worth $28,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in shares of Valaris by 77.9% during the second quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $35,000 after buying an additional 360 shares during the last quarter. Signaturefd LLC lifted its position in Valaris by 45.4% in the 2nd quarter. Signaturefd LLC now owns 916 shares of the company’s stock valued at $39,000 after acquiring an additional 286 shares in the last quarter. GAMMA Investing LLC lifted its position in Valaris by 1,027.5% in the 1st quarter. GAMMA Investing LLC now owns 1,353 shares of the company’s stock valued at $53,000 after acquiring an additional 1,233 shares in the last quarter. Bayforest Capital Ltd boosted its stake in Valaris by 17.2% during the 1st quarter. Bayforest Capital Ltd now owns 1,920 shares of the company’s stock valued at $75,000 after purchasing an additional 282 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Valaris by 73.4% during the 1st quarter. Covestor Ltd now owns 3,313 shares of the company’s stock worth $130,000 after purchasing an additional 1,402 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VAL shares. Clarkson Capital cut Valaris from a “buy” rating to a “neutral” rating and set a $54.00 target price on the stock. in a research report on Tuesday, September 2nd. Barclays increased their price target on Valaris from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. BTIG Research reaffirmed a “buy” rating on shares of Valaris in a report on Monday, July 14th. Zacks Research lowered shares of Valaris from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Finally, Fearnley Fonds lowered shares of Valaris from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $48.69.

Valaris Stock Performance

Shares of VAL stock opened at $48.36 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 12.59 and a beta of 1.15. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $53.98. The firm’s 50-day simple moving average is $49.66 and its two-hundred day simple moving average is $43.95.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, July 30th. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.45. Valaris had a net margin of 11.18% and a return on equity of 12.36%. The firm had revenue of $615.20 million during the quarter, compared to the consensus estimate of $582.70 million. During the same period in the prior year, the firm earned $2.03 EPS. The company’s revenue was up .8% compared to the same quarter last year. As a group, equities analysts forecast that Valaris Limited will post 3.96 earnings per share for the current year.

About Valaris

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.