Cedar Wealth Management LLC Takes $223,000 Position in Valaris Limited $VAL

Cedar Wealth Management LLC purchased a new position in shares of Valaris Limited (NYSE:VAL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,291 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors have also modified their holdings of VAL. Creative Planning lifted its holdings in shares of Valaris by 184.9% in the 2nd quarter. Creative Planning now owns 58,823 shares of the company’s stock valued at $2,477,000 after purchasing an additional 38,174 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Valaris by 139.7% in the second quarter. SG Americas Securities LLC now owns 25,183 shares of the company’s stock valued at $1,060,000 after buying an additional 14,676 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Valaris by 7.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,799 shares of the company’s stock worth $707,000 after purchasing an additional 1,159 shares during the period. Old West Investment Management LLC grew its position in Valaris by 1.1% during the second quarter. Old West Investment Management LLC now owns 67,569 shares of the company’s stock worth $2,845,000 after buying an additional 714 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Valaris by 6.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 14,180 shares of the company’s stock worth $597,000 after acquiring an additional 816 shares during the period. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Fearnley Fonds downgraded Valaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. BTIG Research raised their target price on shares of Valaris from $55.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 31st. Susquehanna upped their price target on shares of Valaris from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Capital One Financial set a $55.00 price target on shares of Valaris in a research report on Monday, September 15th. Finally, SEB Equity Research set a $45.50 price objective on shares of Valaris in a research note on Monday, September 1st. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $52.50.

Valaris Stock Performance

Shares of NYSE VAL opened at $57.08 on Friday. The company has a 50-day simple moving average of $52.43 and a 200-day simple moving average of $47.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market cap of $3.97 billion, a PE ratio of 10.18 and a beta of 1.16. Valaris Limited has a 12 month low of $27.15 and a 12 month high of $58.85.

Valaris (NYSE:VAL) last released its earnings results on Wednesday, October 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $1.00 by $1.65. The firm had revenue of $595.70 million during the quarter, compared to analysts’ expectations of $568.41 million. Valaris had a net margin of 16.51% and a return on equity of 17.27%. Valaris’s revenue was down 7.4% compared to the same quarter last year. On average, equities 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.