Renaissance Technologies LLC Sells 46,300 Shares of Valaris Limited $VAL

Renaissance Technologies LLC reduced its stake in Valaris Limited (NYSE:VAL) by 22.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 162,700 shares of the company’s stock after selling 46,300 shares during the period. Renaissance Technologies LLC’s holdings in Valaris were worth $15,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Valaris by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,349,443 shares of the company’s stock worth $328,382,000 after buying an additional 114,730 shares during the last quarter. Schf GPE LLC acquired a new position in Valaris in the 2nd quarter valued at about $77,675,000. Goehring & Rozencwajg Associates LLC grew its stake in Valaris by 24.2% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,319,351 shares of the company’s stock valued at $129,349,000 after buying an additional 257,281 shares during the last quarter. FIL Ltd grew its stake in Valaris by 10.4% in the 4th quarter. FIL Ltd now owns 1,220,279 shares of the company’s stock valued at $61,502,000 after buying an additional 114,967 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Valaris by 11.3% in the 4th quarter. Van ECK Associates Corp now owns 825,833 shares of the company’s stock valued at $41,622,000 after acquiring an additional 83,928 shares during the period. 96.74% of the stock is owned by institutional investors.

Valaris Trading Up 4.9%

Shares of NYSE:VAL opened at $79.25 on Friday. The business’s 50 day simple moving average is $81.81 and its 200 day simple moving average is $85.27. Valaris Limited has a 1 year low of $43.53 and a 1 year high of $114.12. 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 company has a market capitalization of $5.49 billion, a P/E ratio of 5.55 and a beta of 0.93.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Valaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Susquehanna decreased 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, July 8th. Eight research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $60.31.

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.