Renaissance Technologies LLC Has $15.95 Million Stock Holdings in Valaris Limited $VAL

Renaissance Technologies LLC decreased its stake in Valaris Limited (NYSE:VAL) by 22.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,700 shares of the company’s stock after selling 46,300 shares during the period. Renaissance Technologies LLC owned 0.23% of Valaris worth $15,951,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wexford Capital LP bought a new stake in Valaris during the third quarter worth about $41,000. Signaturefd LLC grew its stake in Valaris by 22.1% in the fourth quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock valued at $57,000 after purchasing an additional 205 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Valaris by 240.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company’s stock worth $78,000 after purchasing an additional 1,308 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Valaris during the 4th quarter worth approximately $99,000. Finally, Parallel Advisors LLC raised its stake in shares of Valaris by 33.5% during the 1st quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $104,000 after purchasing an additional 267 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Trading Up 4.9%

Shares of NYSE:VAL opened at $79.25 on Friday. Valaris Limited has a 52-week low of $43.53 and a 52-week high of $114.12. The company has a market capitalization of $5.49 billion, a P/E ratio of 5.55 and a beta of 0.93. The company has a 50-day simple moving average of $81.81 and a 200 day simple moving average of $85.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55.

Valaris (NYSE:VAL) last posted its quarterly 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). The business had revenue of $465.40 million for the quarter, compared to the consensus estimate of $443.75 million. Valaris had a return on equity of 12.31% and a net margin of 45.37%.The company’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.53) EPS. Sell-side analysts forecast that Valaris Limited will post 3.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Susquehanna cut their price objective on Valaris from $98.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Weiss Ratings downgraded shares of Valaris from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Eight investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $60.31.

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.