Valaris Limited (NYSE:VAL – Get Rating)'s stock price rose 2.9% on Wednesday . The company traded as high as $56.40 and last traded at $56.36. Approximately 14,903 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 1,166,617 shares. The stock had previously closed at $54.79.
Valaris Trading Up 3.5 %
The stock has a market capitalization of $4.26 billion, a P/E ratio of 89.82 and a beta of 1.31. The business has a 50 day simple moving average of $50.49 and a 200-day simple moving average of $50.93. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.34 and a current ratio of 2.34.
Get Valaris alerts:Valaris (NYSE:VAL – Get Rating) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.15 earnings per share for the quarter. The business 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 Activity
In other news, VP Colleen Grable sold 3,109 shares of the company's stock in a transaction 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 completion of the sale, the vice president now owns 15,869 shares in the company, valued at $754,888.33. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.06% of the company's stock.Institutional Investors Weigh In On Valaris
Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. acquired a new position in Valaris during the first quarter valued at $52,000. CI Investments Inc. raised its position in Valaris by 34.6% during the first quarter. CI Investments Inc. now owns 1,750 shares of the company's stock valued at $91,000 after buying an additional 450 shares during the period. Spartan Fund Management Inc. acquired a new position in Valaris during the second quarter valued at $106,000. Strs Ohio acquired a new position in Valaris during the second quarter valued at $122,000. Finally, SG Americas Securities LLC acquired a new position in Valaris during the second quarter valued at $142,000. 84.93% of the stock is owned by hedge funds and other institutional investors.
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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