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Valaris (NYSE:VAL) Shares Gap Up to $48.94

Financial News Live ·  10/03/2022 23:52

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.

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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 Valaris

In 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.

About Valaris

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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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