Evergreen Capital Management LLC Buys New Stake in Valaris Limited (NYSE:VAL)

Evergreen Capital Management LLC bought a new position in Valaris Limited (NYSE:VAL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 74,263 shares of the company's stock, valued at approximately $3,285,000. Evergreen Capital Management LLC owned about 0.10% of Valaris as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of VAL. Vanguard Group Inc. lifted its stake in shares of Valaris by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company's stock worth $285,532,000 after purchasing an additional 23,509 shares in the last quarter. Lingotto Investment Management LLP grew its position in Valaris by 2.5% in 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Valaris by 4.6% during the third quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company's stock worth $84,736,000 after purchasing an additional 66,229 shares in the last quarter. Waverton Investment Management Ltd boosted its stake 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 purchasing an additional 85,250 shares during the period. Finally, Norges Bank purchased a new stake in Valaris during the 4th quarter worth $31,949,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Stock Performance

NYSE VAL traded up $0.28 during trading hours on Tuesday, reaching $31.24. The company's stock had a trading volume of 220,941 shares, compared to its average volume of 1,975,302. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. The business has a 50-day simple moving average of $36.83 and a 200 day simple moving average of $43.69. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $84.20. The stock has a market cap of $2.22 billion, a PE ratio of 6.08 and a beta of 1.06.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on VAL shares. Evercore ISI downgraded Valaris from an "outperform" rating to an "in-line" rating and lowered their target price for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Barclays reduced their target price on Valaris from $46.00 to $35.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. StockNews.com raised shares of Valaris to a "sell" rating in a report on Thursday, February 20th. Citigroup decreased their price objective on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Finally, Susquehanna reduced their price target on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $50.33.

Valaris Profile

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.