Amitell Capital Pte Ltd Takes Position in Valaris Limited (NYSE:VAL)

Amitell Capital Pte Ltd bought a new position in Valaris Limited (NYSE:VAL - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 24,410 shares of the company's stock, valued at approximately $1,080,000. Valaris makes up 0.9% of Amitell Capital Pte Ltd's portfolio, making the stock its 24th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Valaris in the 4th quarter worth about $31,949,000. Renaissance Technologies LLC purchased a new stake in shares of Valaris during the fourth quarter valued at approximately $21,747,000. River Road Asset Management LLC lifted its holdings in Valaris by 178.9% during the fourth quarter. River Road Asset Management LLC now owns 409,196 shares of the company's stock worth $18,103,000 after acquiring an additional 262,468 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Valaris in the fourth quarter worth $10,578,000. Finally, Invesco Ltd. grew its stake in Valaris by 68.9% in the 4th quarter. Invesco Ltd. now owns 584,348 shares of the company's stock valued at $25,852,000 after purchasing an additional 238,399 shares during the period. Hedge funds and other institutional investors own 96.74% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on VAL. Evercore ISI cut Valaris from an "outperform" rating to an "in-line" rating and lowered their target price for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. Citigroup lowered their price objective on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. StockNews.com raised shares of Valaris to a "sell" rating in a research report on Thursday, February 20th. Barclays lowered their price target on shares of Valaris from $46.00 to $35.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. Finally, Susquehanna decreased their price objective on shares of Valaris from $50.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, Valaris presently has a consensus rating of "Hold" and an average price target of $52.50.

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Valaris Trading Up 5.2 %

Shares of VAL traded up $1.57 during mid-day trading on Friday, reaching $31.61. The company's stock had a trading volume of 2,154,149 shares, compared to its average volume of 1,444,812. The company's fifty day moving average price is $38.72 and its two-hundred day moving average price is $44.79. 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 $27.15 and a 52 week high of $84.20. The stock has a market cap of $2.25 billion, a PE ratio of 6.15 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 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 firm had revenue of $584.40 million during the quarter, compared to analyst estimates of $578.01 million. On average, analysts predict 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.