Orbis Investment Management Ltd. has recently announced that it has increased stake in Valaris Limited (NYSE:VAL) by 6.09%. After grabbing 3.54 million shares, the institutional investor is now in possession of 0.2 million shares of the Energy Company. The new investment brought the stake of investor firm to 4.71% having worth around $238.02 million. Moreover, Exor Capital LLP increased its share by 35305.0 to have a control over 2.06 million shares. And Fidelity Management & Research Co raised its holdings to 1.37 million shares by acquiring 1.92 million shares or 2.56% of the stake.
Valaris Limited (VAL) concluded trading on 03/16/23 at a closing price of $61.86, with 1.22 million shares of worth about $75.48 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 5.87% during that period and on Thursday the price saw a gain of about 0.31%. Currently the company’s common shares owned by public are about 75.10M shares, out of which, 69.63M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 10 analysts are covering the VAL stock and their offered price forecasts bring an average price target of $97.33. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $120.00 and could fall to a lowest price of $82.00. The stock’s current price level is 31.92% above of average price target set by the analysts, while a rise to estimated low would result in gain of 24.56% for the stock. However, touching the estimated high of $120.00 would mean a gain of 48.45% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 21 times over the past 12 months. They bought 73,874 shares in 14 of the transactions. In 7 selling transactions, insiders dumped 9,645 shares.
VanEck Oil Services ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Valaris Limited VanEck Oil Services ETF is currently holding 1.66 million shares of worth totaling $111.56 million. The company recently came buying 20718.0 shares which brought its stake up to 2.21% of the company’s outstanding shares. iShares Russell 2000 ETF sold 4230.0 shares, after which its hold over company’s outstanding shares shrunk to 1.78%, leaving 1.34 million shares with the mutual fund that have a worth of about $89.85 million. Vanguard Extended Market Index Fu, after selling 0.81 million shares, have now control over 1.08% of the stake in the company. It holds 5738.0 shares of worth $54.42 million.
Valaris Limited (NYSE: VAL) started trading at $60.28, below -$1.39 from concluding price of the previous day. However, the stock later moved at a day high price of 62.63, or with a gain of 0.31%. Stock saw a price change of -7.88% in past 5 days and over the past one month there was a price change of -21.60%. Year-to-date (YTD), VAL shares are showing a performance of -8.52% which increased to 37.53% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $37.17 but also hit the highest price of $80.00 during that period. The average intraday trading volume for Valaris Limited shares is 861.06K. The stock is currently trading -10.58% below its 20-day simple moving average (SMA20), while that difference is down -13.11% for SMA50 and it goes to 5.06% higher than SMA200.
Orbis Investment Management Ltd. acquired 3.54 million shares of Valaris Limited having value of about $238.02 million. Data submitted at the U.S SEC by Orbis Investment Management Ltd. revealed that the firm now holds 0.2 million shares in the company valued at close to $12559621.38, or have control over 6.09% stake in the company. Valaris Limited (NYSE: VAL) currently have 75.10M outstanding shares and institutions hold larger chunk of about 87.90% of that. Holding of mutual funds in the company is about 23.45% while other institutional holders and individual stake holders have control over 61.24% and 12.50% of the stake respectively.
The stock has a current market capitalization of $4.83B. PE ratio of stock for trailing 12 months is 26.56, while it has posted earnings per share of $2.33 in the same period. It has a debt-to-equity ratio of 0.45. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for VAL, volatility over the week remained 5.99% while standing at 4.93% over the month.
Analysts are in expectations that Valaris Limited (VAL) stock would likely to be making an EPS of $0.57 in the current quarter, while forecast for next quarter EPS is $0.44 and it is $3.12 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.33 which is $0.9 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.37 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 7.30% while it is estimated to increase by 339.28% in next year.
Analysts at 10 brokerage firms have issued recommendations for the Valaris Limited (VAL)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 10 Wall Street analysts, 9 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by The Benchmark Company on January 19, 2023 offering a Buy rating for the stock and assigned a target price of $95 to it. Coverage by Evercore ISI stated Valaris Limited (VAL) stock as an Outperform in their note to investors on February 08, 2022, suggesting a price target of $72 for the stock.
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