Principal Financial Group Inc. Purchases 44,016 Shares of Valaris Limited $VAL

Principal Financial Group Inc. increased its position in shares of Valaris Limited (NYSE:VAL) by 31.4% in the first quarter, Holdings Channel.com reports. The firm owned 184,082 shares of the company’s stock after purchasing an additional 44,016 shares during the quarter. Principal Financial Group Inc.’s holdings in Valaris were worth $18,047,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in VAL. Wexford Capital LP purchased a new stake in Valaris in the 3rd quarter worth about $41,000. Signaturefd LLC boosted its position in shares of 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 during the period. EverSource Wealth Advisors LLC grew its stake in shares of 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 during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Valaris during the fourth quarter valued at approximately $99,000. Finally, Longview Financial Advisors Inc. purchased a new stake in shares of Valaris in the first quarter worth approximately $105,000. 96.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on VAL shares. Susquehanna decreased their price target on Valaris from $98.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. Weiss Ratings lowered Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Nine research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $60.31.

Valaris Price Performance

Shares of VAL opened at $78.92 on Thursday. The company has a 50 day moving average price of $85.88 and a 200-day moving average price of $84.28. Valaris Limited has a fifty-two week low of $43.53 and a fifty-two week high of $114.12. The stock has a market capitalization of $5.47 billion, a PE ratio of 5.53 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55.

Valaris (NYSE:VAL) last issued its quarterly earnings data 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 business had revenue of $465.40 million for the quarter, compared to analysts’ expectations of $443.75 million. Valaris had a net margin of 45.37% and a return on equity of 12.31%. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.53) earnings per share. Equities analysts predict that Valaris Limited will post 3.18 earnings per share for the current fiscal year.

About Valaris

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.