Olympiad Research LP Makes New Investment in Valaris Limited (NYSE:VAL)

Olympiad Research LP acquired a new stake in Valaris Limited (NYSE:VAL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,573 shares of the company’s stock, valued at approximately $247,000.

Other large investors have also modified their holdings of the company. Quarry LP acquired a new position in shares of Valaris in the 3rd quarter valued at $25,000. Blue Trust Inc. grew its position in Valaris by 41.0% during the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after purchasing an additional 511 shares during the last quarter. Saturna Capital Corp grew its position in Valaris by 4.8% during the 3rd quarter. Saturna Capital Corp now owns 13,290 shares of the company’s stock worth $741,000 after purchasing an additional 604 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Valaris by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 15,651 shares of the company’s stock valued at $873,000 after purchasing an additional 604 shares during the period. Finally, Sigma Planning Corp increased its stake in Valaris by 16.5% in the third quarter. Sigma Planning Corp now owns 4,728 shares of the company’s stock valued at $264,000 after purchasing an additional 670 shares during the period. 96.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Susquehanna dropped their price objective on shares of Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday. Citigroup lifted their price objective on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Barclays restated an “equal weight” rating and issued a $49.00 price objective (down from $59.00) on shares of Valaris in a research note on Wednesday, December 18th. Evercore ISI lowered shares of Valaris from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded shares of Valaris to a “sell” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, Valaris currently has an average rating of “Hold” and a consensus price target of $55.50.

Valaris Trading Down 6.2 %

Shares of Valaris stock opened at $41.80 on Monday. Valaris Limited has a 52-week low of $39.90 and a 52-week high of $84.20. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The company’s 50-day simple moving average is $45.42 and its 200-day simple moving average is $50.53. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 8.13 and a beta of 1.10.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The business had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. As a group, equities research analysts anticipate that Valaris Limited will post 3.96 earnings per share for the current year.

Valaris Company Profile

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.