FMR LLC trimmed its stake in Valaris Limited (NYSE:VAL - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,144,219 shares of the company's stock after selling 1,383,919 shares during the quarter. FMR LLC owned about 4.42% of Valaris worth $139,100,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Aristides Capital LLC purchased a new stake in shares of Valaris during the 4th quarter valued at $212,000. Quadrant Capital Group LLC boosted its holdings in Valaris by 326.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company's stock valued at $83,000 after acquiring an additional 1,435 shares during the last quarter. Russell Investments Group Ltd. grew its position in Valaris by 19.3% during the fourth quarter. Russell Investments Group Ltd. now owns 15,139 shares of the company's stock valued at $670,000 after acquiring an additional 2,444 shares during the period. Envestnet Asset Management Inc. increased its stake in Valaris by 63.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 18,573 shares of the company's stock worth $822,000 after acquiring an additional 7,234 shares during the last quarter. Finally, Old West Investment Management LLC purchased a new position in shares of Valaris in the 4th quarter worth about $1,572,000. Institutional investors and hedge funds own 96.74% of the company's stock.
Valaris Price Performance
Shares of VAL traded down $0.28 during midday trading on Wednesday, reaching $30.09. The stock had a trading volume of 1,239,034 shares, compared to its average volume of 1,453,113. The firm's 50 day moving average price is $38.07 and its 200-day moving average price is $44.45. The company has a market capitalization of $2.14 billion, a P/E ratio of 5.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $84.20.
Valaris (NYSE:VAL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.68. The firm 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%. On average, analysts forecast that Valaris Limited will post 3.96 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
VAL has been the topic of a number of recent research reports. StockNews.com raised shares of Valaris to a "sell" rating in a research report on Thursday, February 20th. Evercore ISI cut Valaris from an "outperform" rating to an "in-line" rating and reduced their target price for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Barclays lowered their price target on Valaris from $46.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Susquehanna cut their target price on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Citigroup dropped their price objective on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $50.33.
Read Our Latest Research Report on VAL
About Valaris
(
Free Report)
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.
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