Geode Capital Management LLC Trims Position in Valaris Limited (NYSE:VAL)

Geode Capital Management LLC lessened its holdings in Valaris Limited (NYSE:VAL - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,495,515 shares of the company's stock after selling 24,129 shares during the quarter. Geode Capital Management LLC owned 2.10% of Valaris worth $66,177,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of VAL. Arizona State Retirement System increased its holdings in shares of Valaris by 1.3% in the fourth 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 during the period. Xponance Inc. boosted its position in Valaris by 5.5% in the fourth quarter. Xponance Inc. now owns 9,273 shares of the company's stock valued at $410,000 after buying an additional 487 shares during the last quarter. State of Michigan Retirement System boosted its position in Valaris by 3.3% in the fourth quarter. State of Michigan Retirement System now owns 15,500 shares of the company's stock valued at $686,000 after buying an additional 500 shares during the last quarter. Blue Trust Inc. increased its holdings in Valaris by 41.0% in the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock worth $78,000 after buying an additional 511 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its stake in Valaris by 3.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,622 shares of the company's stock valued at $735,000 after acquiring an additional 556 shares during the period. Hedge funds and other institutional investors own 96.74% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. 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 report on Monday, April 7th. Evercore ISI cut Valaris from an "outperform" rating to an "in-line" rating and reduced their price target for the company from $87.00 to $59.00 in a research report on Wednesday, January 15th. Citigroup lowered their price objective on Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Susquehanna cut their target price on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a report on Monday. Finally, StockNews.com upgraded shares of Valaris to a "sell" rating in a research note on Thursday, February 20th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $50.33.

Valaris Price Performance

Shares of NYSE:VAL traded down $0.28 during midday trading on Wednesday, reaching $30.09. 1,239,034 shares of the company's stock traded hands, compared to its average volume of 1,453,113. The company has a market cap of $2.14 billion, a P/E ratio of 5.85 and a beta of 1.06. The company has a fifty day simple moving average of $38.07 and a two-hundred day simple moving average of $44.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. 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 released its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.68. The firm had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. Equities analysts predict that Valaris Limited will post 3.96 EPS for the current fiscal year.

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.