New York State Teachers Retirement System Boosts Stake in Valaris Limited $VAL

New York State Teachers Retirement System grew its holdings in Valaris Limited (NYSE:VAL) by 39.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 49,871 shares of the company’s stock after buying an additional 14,050 shares during the period. New York State Teachers Retirement System’s holdings in Valaris were worth $4,889,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VAL. Strs Ohio lifted its position in Valaris by 1,250.0% in the first quarter. Strs Ohio now owns 16,200 shares of the company’s stock valued at $1,588,000 after buying an additional 15,000 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Valaris by 2.7% during the first quarter. Pictet Asset Management Holding SA now owns 10,610 shares of the company’s stock valued at $1,040,000 after acquiring an additional 283 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Valaris during the first quarter valued at about $1,833,000. Longview Financial Advisors Inc. purchased a new stake in shares of Valaris in the 1st quarter valued at approximately $105,000. Finally, Tactive Advisors LLC acquired a new position in shares of Valaris in the 1st quarter worth approximately $264,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VAL shares. Weiss Ratings cut shares of Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Susquehanna cut their target price on Valaris from $98.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Valaris currently has an average rating of “Reduce” and an average price target of $60.31.

Valaris Stock Performance

Shares of Valaris stock opened at $77.66 on Thursday. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 5.44 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.55 and a quick ratio of 1.55. The business has a 50-day moving average of $89.88 and a 200 day moving average of $82.34. Valaris Limited has a 12 month low of $43.53 and a 12 month high of $114.12.

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