Norges Bank Acquires New Shares in Valaris Limited $VAL

Norges Bank bought a new stake in Valaris Limited (NYSE:VAL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 467,881 shares of the company’s stock, valued at approximately $23,581,000. Norges Bank owned about 0.67% of Valaris at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Wexford Capital LP bought a new stake in Valaris in the third quarter worth approximately $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 last quarter. EverSource Wealth Advisors LLC boosted its position 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. Leonteq Securities AG bought a new position in Valaris in the 4th quarter valued at $109,000. Finally, Hantz Financial Services Inc. grew its stake in Valaris by 133.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,837 shares of the company’s stock valued at $138,000 after purchasing an additional 1,622 shares during the period. 96.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on VAL. Weiss Ratings lowered Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Pareto Securities cut Valaris from a “hold” rating to a “sell” rating and set a $80.00 target price for the company. in a research report on Monday, February 23rd. BTIG Research cut Valaris from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Susquehanna boosted their target price on Valaris from $96.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 7th. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $63.19.

Valaris Trading Down 4.4%

VAL opened at $87.40 on Wednesday. The stock has a market cap of $6.05 billion, a PE ratio of 6.12 and a beta of 0.91. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $96.54 and a 200-day moving average of $78.89. Valaris Limited has a 52 week low of $41.03 and a 52 week high of $114.12.

Valaris (NYSE:VAL) last posted 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). The company had revenue of $465.40 million for the quarter, compared to the consensus estimate of $443.75 million. Valaris had a net margin of 45.37% and a return on equity of 12.31%. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period last year, the business earned ($0.53) EPS. Equities research 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.