KLP Kapitalforvaltning AS Takes $571,000 Position in Valaris Limited (NYSE:VAL)

KLP Kapitalforvaltning AS purchased a new position in Valaris Limited (NYSE:VAL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,900 shares of the company's stock, valued at approximately $571,000.

A number of other institutional investors have also bought and sold shares of VAL. American Century Companies Inc. boosted its stake in shares of Valaris by 3.5% in the fourth quarter. American Century Companies Inc. now owns 33,474 shares of the company's stock worth $1,481,000 after acquiring an additional 1,117 shares during the period. Privium Fund Management B.V. lifted its holdings in Valaris by 86.3% in the 4th quarter. Privium Fund Management B.V. now owns 14,182 shares of the company's stock worth $627,000 after purchasing an additional 6,571 shares in the last quarter. Packer & Co Ltd bought a new position in Valaris in the 4th quarter worth approximately $8,981,000. Xponance Inc. grew its holdings in Valaris by 5.5% during the 4th quarter. Xponance Inc. now owns 9,273 shares of the company's stock valued at $410,000 after buying an additional 487 shares in the last quarter. Finally, Tejara Capital Ltd raised its position in shares of Valaris by 93.0% during the fourth quarter. Tejara Capital Ltd now owns 112,405 shares of the company's stock valued at $4,973,000 after buying an additional 54,173 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on VAL shares. Evercore ISI cut shares of Valaris from an "outperform" rating to an "in-line" rating and cut their target price for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. StockNews.com upgraded Valaris to a "sell" rating in a research report on Thursday, February 20th. Barclays decreased their target price on Valaris from $49.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 25th. Citigroup cut their price target on Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. began coverage on Valaris in a report on Friday, December 6th. They set an "underweight" rating and a $40.00 price objective on the stock. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, Valaris has a consensus rating of "Hold" and a consensus price target of $54.33.

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Valaris Trading Down 14.5 %

VAL stock traded down $5.01 during midday trading on Friday, reaching $29.49. 5,780,783 shares of the company traded hands, compared to its average volume of 1,390,963. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 5.74 and a beta of 1.16. Valaris Limited has a 52-week low of $29.41 and a 52-week high of $84.20. The business has a 50 day moving average of $41.46 and a 200-day moving average of $46.18. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.68. The company had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. As a group, sell-side analysts expect that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

About Valaris

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.