Oregon Public Employees Retirement Fund Has $962,000 Holdings in Valaris Limited (NYSE:VAL)

Oregon Public Employees Retirement Fund lessened its position in Valaris Limited (NYSE:VAL) by 16.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 12,917 shares of the company’s stock after selling 2,600 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Valaris were worth $962,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Lingotto Investment Management LLP grew its stake in Valaris by 3.6% in the fourth quarter. Lingotto Investment Management LLP now owns 3,003,740 shares of the company’s stock valued at $205,966,000 after acquiring an additional 104,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Valaris by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 1,893,667 shares of the company’s stock valued at $129,849,000 after buying an additional 77,490 shares during the last quarter. Condire Management LP boosted its position in shares of Valaris by 14.7% during the first quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock valued at $109,285,000 after buying an additional 186,076 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Valaris by 18.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 870,063 shares of the company’s stock valued at $59,662,000 after buying an additional 135,753 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Valaris by 4.9% during the first quarter. Principal Financial Group Inc. now owns 828,385 shares of the company’s stock valued at $62,344,000 after buying an additional 38,531 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays cut their target price on Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Pickering Energy Partners cut Valaris from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 16th. Finally, Benchmark reaffirmed a “buy” rating and set a $90.00 target price on shares of Valaris in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.80.

Valaris Stock Performance

Shares of Valaris stock opened at $56.03 on Tuesday. The business’s fifty day simple moving average is $68.50 and its 200 day simple moving average is $70.49. The firm has a market capitalization of $4.08 billion, a P/E ratio of 4.90 and a beta of 1.17. Valaris Limited has a 12 month low of $55.19 and a 12 month 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.

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

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.