Professional
Added to YB: 2024-05-16
Pitch date: 2024-05-16
VAL [bullish]
Valaris Limited
+31.93%
current return
Author Info
Praetorian Capital is a hedge fund managed by Harris “Kuppy” Kupperman dedicated to seeking non-correlated, asymmetric and absolute returns. Sign up for the newsletter.
Company Info
Valaris Limited, together with its subsidiaries, provides offshore contract drilling services in Brazil, the United Kingdom, Gulf of America, Australia, Angola, and internationally.
Market Cap
$7.9B
Pitch Price
$76.92
Price Target
N/A
Dividend
N/A
EV/EBITDA
13.84
P/E
7.96
EV/Sales
3.81
Sector
Energy Equipment and Services
Category
turnaround
Praetorian Capital holding: Valaris ($VAL)
VAL: Bullish on energy services. Bankruptcies reduced capacity & competition. Oil price recovery to drive drilling demand. Spending delays extend thesis but increase prices, forcing more E&P investment. Bought at fraction of replacement cost despite restored B/S & +FCF. Upside as cash flow potential realized & equip reprices to replacement value.
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