Huber Capital Management LLC Increases Holdings in Valaris Limited (NYSE:VAL)

Huber Capital Management LLC increased its stake in shares of Valaris Limited (NYSE:VAL) by 15.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,100 shares of the company’s stock after purchasing an additional 1,800 shares during the period. Huber Capital Management LLC’s holdings in Valaris were worth $976,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in VAL. EverSource Wealth Advisors LLC boosted its position in shares of Valaris by 180.8% in the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 235 shares during the period. Assetmark Inc. boosted its holdings in Valaris by 88.3% in the 4th quarter. Assetmark Inc. now owns 1,747 shares of the company’s stock valued at $120,000 after purchasing an additional 819 shares during the period. Headlands Technologies LLC purchased a new position in shares of Valaris during the 1st quarter valued at $149,000. Choreo LLC bought a new position in shares of Valaris in the second quarter worth $204,000. Finally, Fermata Advisors LLC purchased a new stake in shares of Valaris in the second quarter worth $237,000. Institutional investors own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays reduced their target price on Valaris from $98.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Citigroup decreased their price objective on shares of Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Benchmark reiterated a “buy” rating and set a $90.00 target price on shares of Valaris in a research report on Monday, August 5th. Finally, Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.40.

Valaris Stock Down 1.6 %

Shares of VAL opened at $55.31 on Friday. The firm has a market cap of $4.01 billion, a P/E ratio of 4.84 and a beta of 1.17. Valaris Limited has a 1 year low of $53.06 and a 1 year high of $84.20. The stock has a 50 day simple moving average of $65.15 and a two-hundred day simple moving average of $69.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $1.07. The company had revenue of $610.10 million during the quarter, compared to analysts’ expectations of $545.00 million. Valaris had a net margin of 49.33% and a return on equity of 12.58%. On average, analysts forecast that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the sale, the chief operating officer now owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Valaris news, SVP Davor Vukadin sold 15,403 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Gilles Luca sold 30,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Valaris 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.