One Fund Just Dumped $13 Million in This Offshore Drilling Stock — Here's What Long-Term Investors Should Know

Core Insights - Findell Capital Management has completely exited its position in Valaris Limited, selling 300,000 shares for an estimated $12.6 million, as disclosed in a quarterly Form 13-F filing [2][6][8] Company Overview - Valaris Limited is a leading provider of offshore drilling services with a market capitalization of $4 billion and revenue of $2.4 billion over the trailing twelve months (TTM) [4][5] - The company reported a net income of $399 million (TTM) and generated $596 million in revenue for the latest quarter, reflecting strong operational performance [4][7][8] Stock Performance - As of the latest market close, Valaris shares were priced at $55.94, representing a 22% increase over the past year, significantly outperforming the S&P 500's 13% gain during the same period [3][8] - The stock has increased approximately 90% since its lows in April [8] Operational Highlights - Valaris has demonstrated operational efficiency, with a reported adjusted EBITDA of $163 million and a net income of $187 million for the latest quarter, up from $114 million in the previous quarter [7][8] - The company has secured contracts for all four of its active drillships with near-term availability, indicating strong demand in the offshore drilling market [8] Investment Strategy - The exit by Findell Capital suggests a strategic shift towards small- and mid-cap growth opportunities, moving away from asset-heavy businesses like offshore drilling [6][8]