Contrarian Capital Management L.L.C. Sells 25,000 Shares of Valaris Limited (NYSE:VAL)

Contrarian Capital Management L.L.C. trimmed its holdings in shares of Valaris Limited (NYSE:VAL - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,000 shares of the company's stock after selling 25,000 shares during the quarter. Valaris comprises about 0.7% of Contrarian Capital Management L.L.C.'s investment portfolio, making the stock its 18th largest holding. Contrarian Capital Management L.L.C. owned approximately 0.07% of Valaris worth $2,212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board lifted its position in shares of Valaris by 221.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 302,200 shares of the company's stock valued at $13,369,000 after acquiring an additional 208,200 shares during the period. Zacks Investment Management acquired a new position in Valaris in the fourth quarter valued at about $2,186,000. Evergreen Capital Management LLC bought a new stake in Valaris during the fourth quarter worth about $3,285,000. Bridgewater Associates LP lifted its position in Valaris by 3,482.7% during the fourth quarter. Bridgewater Associates LP now owns 132,487 shares of the company's stock worth $5,861,000 after purchasing an additional 128,789 shares during the period. Finally, Guggenheim Capital LLC grew its stake in Valaris by 64.8% during the fourth quarter. Guggenheim Capital LLC now owns 31,088 shares of the company's stock worth $1,375,000 after buying an additional 12,223 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Valaris Trading Down 0.6 %

NYSE:VAL traded down $0.19 during trading hours on Wednesday, hitting $31.14. 918,713 shares of the company were exchanged, compared to its average volume of 1,468,187. The company has a fifty day simple moving average of $36.54 and a 200 day simple moving average of $43.60. Valaris Limited has a one year low of $27.15 and a one year high of $84.20. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 6.06 and a beta of 1.06. 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 (NYSE:VAL - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.20 by $0.68. The business had revenue of $584.40 million for the quarter, compared to analysts' expectations of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. Sell-side analysts expect that Valaris Limited will post 3.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VAL has been the subject of a number of recent analyst reports. Citigroup cut their price target 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. StockNews.com raised Valaris to a "sell" rating in a report on Thursday, February 20th. Susquehanna lowered their price target on Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Evercore ISI lowered Valaris from an "outperform" rating to an "in-line" rating and reduced their price objective for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Finally, Barclays lowered 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. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, Valaris currently has an average rating of "Hold" and a consensus target price of $50.33.

Valaris Company 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.