Federated Hermes Inc. Sells 279 Shares of Valaris Limited (NYSE:VAL)

Federated Hermes Inc. lessened its stake in Valaris Limited (NYSE:VAL) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,629 shares of the company’s stock after selling 279 shares during the period. Federated Hermes Inc.’s holdings in Valaris were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of 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 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 235 shares in the last quarter. Assetmark Inc. boosted its holdings in Valaris by 88.3% in the fourth quarter. Assetmark Inc. now owns 1,747 shares of the company’s stock worth $120,000 after acquiring an additional 819 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Valaris during the first quarter worth about $149,000. Choreo LLC acquired a new position in shares of Valaris during the second quarter valued at about $204,000. Finally, Fermata Advisors LLC purchased a new position in shares of Valaris in the 2nd quarter valued at approximately $237,000. 96.74% of the stock is currently owned by institutional investors.

Valaris Price Performance

Shares of VAL opened at $56.95 on Wednesday. The business’s 50-day moving average is $64.65 and its two-hundred day moving average is $69.77. The company has a market capitalization of $4.12 billion, a P/E ratio of 4.95 and a beta of 1.17. Valaris Limited has a fifty-two week low of $53.06 and a fifty-two week high of $84.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.73 and a current ratio of 1.73.

Valaris (NYSE:VAL) last posted its earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The firm had revenue of $610.10 million for the quarter, compared to analyst estimates of $545.00 million. Research analysts predict that Valaris Limited will post 4.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on VAL shares. Barclays dropped their target price on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Susquehanna started coverage on Valaris in a research report on Tuesday. They issued a “neutral” rating and a $62.00 target price on the stock. Benchmark restated a “buy” rating and issued a $90.00 target price on shares of Valaris in a research note on Monday, August 5th. Pickering Energy Partners downgraded Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Finally, Citigroup reduced their price objective on Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.50.

Insider Transactions at Valaris

In related news, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the sale, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at $755,237.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the transaction, the senior vice president now owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 directly owns 108,342 shares in the company, valued at $6,160,326.12. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

About Valaris

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.