Oslo Asset Management AS Raises Holdings in Valaris Limited (NYSE:VAL)

Oslo Asset Management AS lifted its holdings in shares of Valaris Limited (NYSE:VAL) by 17.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 158,545 shares of the company’s stock after acquiring an additional 23,545 shares during the period. Valaris makes up approximately 13.7% of Oslo Asset Management AS’s investment portfolio, making the stock its 2nd largest holding. Oslo Asset Management AS owned 0.22% of Valaris worth $11,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of VAL. SeaCrest Wealth Management LLC lifted its stake in Valaris by 1.0% during the 1st quarter. SeaCrest Wealth Management LLC now owns 16,124 shares of the company’s stock worth $1,213,000 after acquiring an additional 152 shares in the last quarter. Insight Wealth Strategies LLC grew its stake in shares of Valaris by 3.0% in the 1st quarter. Insight Wealth Strategies LLC now owns 7,119 shares of the company’s stock valued at $536,000 after purchasing an additional 210 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Valaris by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 18,244 shares of the company’s stock valued at $1,359,000 after purchasing an additional 214 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Valaris by 180.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 235 shares during the period. Finally, World Equity Group Inc. lifted its holdings in shares of Valaris by 1.9% in the 2nd quarter. World Equity Group Inc. now owns 12,827 shares of the company’s stock valued at $956,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Stock Performance

NYSE VAL opened at $56.85 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $66.30 and a 200-day moving average of $70.07. Valaris Limited has a 1-year low of $53.06 and a 1-year high of $84.20. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 4.97 and a beta of 1.17.

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

Wall Street Analysts Forecast Growth

VAL has been the subject of several recent research reports. Benchmark reissued a “buy” rating and set a $90.00 price target on shares of Valaris in a research report on Monday, August 5th. Citigroup cut their price objective on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Barclays lowered their target price on Valaris from $98.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Pickering Energy Partners downgraded Valaris from an “outperform” rating to a “neutral” rating in a research 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’s stock. Based on data from MarketBeat, Valaris has a consensus rating of “Moderate Buy” and an average target price of $91.40.

Insider Buying and Selling

In other news, COO Gilles Luca sold 30,000 shares of Valaris stock in a transaction on 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 owns 108,342 shares in the company, valued at $6,160,326.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other 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 value of $872,425.92. Following the transaction, 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 Securities & Exchange Commission, which is available through this link. Also, COO Gilles Luca sold 30,000 shares of the 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 sale, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Valaris Company 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.