Valaris Limited (NYSE:VAL – Get Rating) shares gapped up before the market opened on Monday . The stock had previously closed at $48.94, but opened at $51.60. Valaris shares last traded at $51.98, with a volume of 1,329 shares.
Valaris Price Performance
The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $50.08 and a 200 day simple moving average of $50.82. The stock has a market capitalization of $4.02 billion, a P/E ratio of 86.69 and a beta of 1.31.Get Valaris alerts:
Valaris (NYSE:VAL – Get Rating) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.15 EPS for the quarter. The firm had revenue of $413.30 million during the quarter. Valaris had a negative return on equity of 5.09% and a net margin of 3.39%.
Insider Transactions at ValarisIn other news, VP Colleen Grable sold 3,109 shares of the business's stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $47.57, for a total value of $147,895.13. Following the transaction, the vice president now owns 15,869 shares in the company, valued at approximately $754,888.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company's stock.
Hedge Funds Weigh In On Valaris
Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. purchased a new position in shares of Valaris in the 1st quarter worth approximately $52,000. CI Investments Inc. lifted its stake in Valaris by 34.6% in the first quarter. CI Investments Inc. now owns 1,750 shares of the company's stock valued at $91,000 after purchasing an additional 450 shares during the last quarter. Spartan Fund Management Inc. purchased a new position in Valaris in the second quarter valued at approximately $106,000. Strs Ohio purchased a new position in Valaris in the second quarter valued at approximately $122,000. Finally, SG Americas Securities LLC purchased a new position in Valaris in the second quarter valued at approximately $142,000. Hedge funds and other institutional investors own 84.93% of the company's stock.
Valaris Limited provides offshore contract drilling services to the international oil and gas industry. The company owns an offshore drilling rig fleet of 56 rigs, which include 11 drillships, 4 dynamically positioned semisubmersible rigs, 1 moored semisubmersible rig, and 40 jackup rigs. It serves international, government-owned, and independent oil and gas companies in the Gulf of Mexico, the North Sea, the Middle East, West Africa, Australia, and Southeast Asia.
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