Packer & Co Ltd bought a new stake in shares of Valaris Limited (NYSE:VAL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 203,000 shares of the company's stock, valued at approximately $8,981,000. Valaris accounts for approximately 2.9% of Packer & Co Ltd's holdings, making the stock its 6th largest position. Packer & Co Ltd owned approximately 0.29% of Valaris as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lingotto Investment Management LLP increased its stake in shares of Valaris by 2.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company's stock valued at $160,910,000 after acquiring an additional 87,420 shares during the period. State Street Corp boosted its stake in Valaris by 4.8% during the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company's stock valued at $136,365,000 after purchasing an additional 112,216 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Valaris by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company's stock valued at $84,736,000 after purchasing an additional 66,229 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Valaris by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 797,060 shares of the company's stock worth $44,436,000 after buying an additional 29,031 shares in the last quarter. Finally, Waverton Investment Management Ltd lifted its holdings in shares of Valaris by 12.7% in the fourth quarter. Waverton Investment Management Ltd now owns 756,135 shares of the company's stock valued at $33,451,000 after buying an additional 85,250 shares during the period. 96.74% of the stock is currently owned by institutional investors.
Valaris Trading Down 1.7 %
VAL stock traded down $0.68 during mid-day trading on Friday, reaching $39.68. 1,774,690 shares of the stock traded hands, compared to its average volume of 1,317,477. The stock's fifty day moving average is $43.07 and its 200-day moving average is $47.12. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. Valaris Limited has a 52-week low of $31.15 and a 52-week high of $84.20. The company has a market cap of $2.82 billion, a P/E ratio of 7.72 and a beta of 1.16.
Valaris (NYSE:VAL - Get Free Report) last posted 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. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The firm had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. As a group, sell-side analysts expect that Valaris Limited will post 3.96 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on VAL. Barclays lowered their target price on Valaris from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. initiated coverage on shares of Valaris in a research report on Friday, December 6th. They set an "underweight" rating and a $40.00 price objective for the company. Susquehanna dropped their target price on shares of Valaris from $50.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Evercore ISI cut shares of Valaris from an "outperform" rating to an "in-line" rating and reduced their target price for the stock from $87.00 to $59.00 in a report on Wednesday, January 15th. Finally, Citigroup decreased their price target on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat.com, Valaris presently has a consensus rating of "Hold" and a consensus price target of $54.33.
Read Our Latest Stock Analysis on Valaris
About Valaris
(
Free Report)
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.
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