Herr Investment Group LLC Buys 130,236 Shares of Valaris Limited (NYSE:VAL)

Herr Investment Group LLC boosted its stake in Valaris Limited (NYSE:VAL) by 123.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 235,822 shares of the company’s stock after purchasing an additional 130,236 shares during the quarter. Valaris comprises 1.2% of Herr Investment Group LLC’s portfolio, making the stock its 5th largest position. Herr Investment Group LLC owned about 0.32% of Valaris worth $17,569,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of VAL. Canada Pension Plan Investment Board acquired a new stake in Valaris in the 2nd quarter valued at $13,306,000. Goehring & Rozencwajg Associates LLC raised its stake in Valaris by 10.3% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 52,438 shares of the company’s stock valued at $3,907,000 after buying an additional 4,900 shares in the last quarter. Oslo Asset Management AS lifted its holdings in Valaris by 17.4% during the 2nd quarter. Oslo Asset Management AS now owns 158,545 shares of the company’s stock worth $11,812,000 after buying an additional 23,545 shares during the last quarter. Lingotto Investment Management LLP grew its position in shares of Valaris by 1.2% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,040,610 shares of the company’s stock worth $226,525,000 after acquiring an additional 36,870 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Valaris by 23.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after acquiring an additional 225,283 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Insider Transactions at Valaris

In related news, SVP Davor Vukadin sold 15,403 shares of Valaris 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Gilles Luca sold 30,000 shares of Valaris stock in a transaction on Monday, September 9th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Davor Vukadin sold 15,403 shares of the firm’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 sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at $755,237.76. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Valaris Price Performance

Shares of Valaris stock opened at $56.21 on Friday. Valaris Limited has a 52 week low of $53.06 and a 52 week high of $84.20. 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’s 50-day moving average price is $65.96 and its two-hundred day moving average price is $69.97. The stock has a market cap of $4.09 billion, a PE ratio of 4.92 and a beta of 1.17.

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

Analyst Ratings Changes

VAL has been the topic of a number of research reports. Citigroup dropped their price target on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Barclays dropped their price objective on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Pickering Energy Partners lowered shares of Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Finally, Benchmark restated a “buy” rating and issued a $90.00 price target on shares of Valaris in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

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.