Platinum Investment Management Ltd. Sells 918,767 Shares of Valaris Limited $VAL

Platinum Investment Management Ltd. cut its position in shares of Valaris Limited (NYSE:VAL) by 95.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,956 shares of the company’s stock after selling 918,767 shares during the quarter. Platinum Investment Management Ltd. owned about 0.07% of Valaris worth $2,316,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of VAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Valaris by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,689 shares of the company’s stock worth $1,440,000 after acquiring an additional 1,605 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Valaris by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,662 shares of the company’s stock worth $5,797,000 after acquiring an additional 4,263 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Valaris by 4.1% in the 2nd quarter. Prudential Financial Inc. now owns 5,885 shares of the company’s stock worth $248,000 after acquiring an additional 230 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Valaris by 17.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 13,539 shares of the company’s stock worth $570,000 after acquiring an additional 1,996 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Valaris in the 2nd quarter worth about $249,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Valaris Stock Performance

VAL stock opened at $90.02 on Friday. The stock has a 50-day moving average price of $96.06 and a 200-day moving average price of $79.47. Valaris Limited has a 1-year low of $41.03 and a 1-year high of $114.12. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34. The firm has a market cap of $6.23 billion, a PE ratio of 6.30 and a beta of 0.91.

Valaris (NYSE:VAL) last issued its earnings results on Monday, May 4th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). Valaris had a net margin of 45.37% and a return on equity of 12.31%. The firm had revenue of $465.40 million during the quarter, compared to the consensus estimate of $443.75 million. During the same period in the previous year, the firm earned ($0.53) earnings per share. The business’s quarterly revenue was down 25.0% on a year-over-year basis. As a group, equities research analysts expect that Valaris Limited will post 3.18 earnings per share for the current year.

Valaris 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.