21,000 Shares of Valaris Limited $VAL Purchased by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC bought a new position in shares of Valaris Limited (NYSE:VAL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 21,000 shares of the company’s stock, valued at approximately $1,649,000. Valaris accounts for approximately 0.7% of Merrion Investment Management Co LLC’s portfolio, making the stock its 27th largest holding.

Several other institutional investors have also recently made changes to their positions in VAL. PNC Financial Services Group Inc. grew its position in Valaris by 0.5% during the first quarter. PNC Financial Services Group Inc. now owns 31,465 shares of the company’s stock valued at $3,085,000 after buying an additional 169 shares during the period. State of Michigan Retirement System grew its position in shares of Valaris by 1.3% during the 1st quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock valued at $1,520,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC increased its stake in shares of Valaris by 6.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,162 shares of the company’s stock valued at $248,000 after purchasing an additional 203 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Valaris by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,176 shares of the company’s stock valued at $1,292,000 after purchasing an additional 239 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Valaris by 33.5% during the 1st quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $104,000 after buying an additional 267 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Valaris Trading Up 1.9%

NYSE:VAL traded up $1.60 on Friday, hitting $85.35. The stock had a trading volume of 879,171 shares, compared to its average volume of 1,026,011. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 6.37 and a beta of 1.04. 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 company has a fifty day moving average price of $84.55 and a two-hundred day moving average price of $86.85. Valaris Limited has a 1-year low of $47.37 and a 1-year high of $114.12.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.41. The firm had revenue of $539.20 million for the quarter, compared to analysts’ expectations of $488.52 million. Valaris had a return on equity of 9.25% and a net margin of 43.95%. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 earnings per share. Equities research analysts expect that Valaris Limited will post 3.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on VAL shares. Wall Street Zen upgraded shares of Valaris to a “hold” rating in a research report on Saturday. Susquehanna lifted their target price on shares of Valaris from $80.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, October 5th. Finally, Weiss Ratings raised shares of Valaris from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Valaris presently has an average rating of “Reduce” and a consensus target price of $67.80.

Valaris Company Profile

Valaris Limited (NYSE: VAL) is an offshore drilling contractor that provides drilling services to oil and gas companies worldwide. The company operates a fleet of offshore rigs, including drillships, semisubmersible rigs and jackup rigs, used to explore for and develop offshore energy resources.

Its services support drilling programs in a range of offshore environments, from shallow-water projects using jackup rigs to deepwater and ultra-deepwater operations using drillships and semisubmersible rigs.