Jennison Associates LLC Sells 10,451 Shares of Valaris Limited $VAL

Jennison Associates LLC reduced its position in shares of Valaris Limited (NYSE:VAL) by 58.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,568 shares of the company’s stock after selling 10,451 shares during the quarter. Jennison Associates LLC’s holdings in Valaris were worth $742,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hosking Partners LLP increased its stake in shares of Valaris by 21.1% during the fourth quarter. Hosking Partners LLP now owns 299,669 shares of the company’s stock valued at $15,103,000 after buying an additional 52,278 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in Valaris in the fourth quarter worth about $1,058,000. Denali Advisors LLC bought a new position in Valaris during the 4th quarter worth about $1,618,000. New York State Teachers Retirement System grew its holdings in Valaris by 39.2% during the 1st quarter. New York State Teachers Retirement System now owns 49,871 shares of the company’s stock worth $4,889,000 after acquiring an additional 14,050 shares in the last quarter. Finally, Gallacher Capital Management LLC purchased a new position in Valaris during the 1st quarter valued at about $1,284,000. 96.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Weiss Ratings lowered shares of Valaris from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Susquehanna dropped their price objective on shares of Valaris from $98.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 8th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $60.31.

Valaris Trading Up 1.1%

VAL opened at $78.92 on Thursday. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 5.53 and a beta of 0.93. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34. Valaris Limited has a 12 month low of $43.53 and a 12 month high of $114.12. The stock has a fifty day moving average price of $85.88 and a 200-day moving average price of $84.28.

Valaris (NYSE:VAL) last issued 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 return on equity of 12.31% and a net margin of 45.37%.The company had revenue of $465.40 million for the quarter, compared to analysts’ expectations of $443.75 million. During the same quarter last year, the company earned ($0.53) earnings per share. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Valaris Limited will post 3.18 earnings per share for the current fiscal year.

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.