Diametric Capital LP Invests $320,000 in Valaris Limited (NYSE:VAL)

Diametric Capital LP acquired a new position in shares of Valaris Limited (NYSE:VAL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,241 shares of the company's stock, valued at approximately $320,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arizona State Retirement System grew its holdings in Valaris by 1.3% during the 4th quarter. Arizona State Retirement System now owns 19,002 shares of the company's stock valued at $841,000 after purchasing an additional 237 shares in the last quarter. Quarry LP purchased a new position in Valaris in the 3rd quarter valued at about $25,000. Xponance Inc. grew its stake in shares of Valaris by 5.5% during the fourth quarter. Xponance Inc. now owns 9,273 shares of the company's stock valued at $410,000 after acquiring an additional 487 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Valaris by 3.3% during the fourth quarter. State of Michigan Retirement System now owns 15,500 shares of the company's stock valued at $686,000 after acquiring an additional 500 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Valaris by 41.0% during the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock worth $78,000 after acquiring an additional 511 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Valaris Stock Performance

Valaris stock traded down $5.74 during mid-day trading on Thursday, hitting $34.36. 3,010,288 shares of the company's stock traded hands, compared to its average volume of 1,373,175. The company has a market cap of $2.44 billion, a PE ratio of 6.68 and a beta of 1.16. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. Valaris Limited has a one year low of $31.15 and a one year high of $84.20. The firm has a 50 day moving average price of $41.46 and a 200 day moving average price of $46.18.

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Valaris (NYSE:VAL - Get Free Report) last announced its earnings results 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 net margin of 15.81% and a return on equity of 17.40%. The firm had revenue of $584.40 million during the quarter, compared to analyst estimates of $578.01 million. On average, equities analysts forecast that Valaris Limited will post 3.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VAL shares. Barclays lowered their price objective on Valaris from $49.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 25th. StockNews.com raised shares of Valaris to a "sell" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. began coverage on shares of Valaris in a report on Friday, December 6th. They issued an "underweight" rating and a $40.00 price target on the stock. Susquehanna decreased their target price on Valaris from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Finally, Citigroup reduced their price objective on Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $54.33.

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.