FIL Ltd Lowers Position in Valaris Limited (NYSE:VAL)

FIL Ltd cut its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,109,741 shares of the company's stock after selling 55,228 shares during the period. FIL Ltd owned 1.56% of Valaris worth $49,095,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

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

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Valaris Trading Up 0.2 %

Shares of VAL traded up $0.07 during midday trading on Tuesday, reaching $30.96. The company had a trading volume of 505,755 shares, compared to its average volume of 2,006,494. The firm has a 50 day simple moving average of $38.39 and a 200-day simple moving average of $44.55. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The stock has a market cap of $2.20 billion, a PE ratio of 6.02 and a beta of 1.06. Valaris Limited has a 1-year low of $27.15 and a 1-year high of $84.20.

Valaris (NYSE:VAL - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, topping 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 company had revenue of $584.40 million for the quarter, compared to the consensus estimate of $578.01 million. Research analysts forecast that Valaris Limited will post 3.96 EPS for the current fiscal year.

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.