Invesco Ltd. Buys 238,399 Shares of Valaris Limited (NYSE:VAL)

Invesco Ltd. increased its holdings in Valaris Limited (NYSE:VAL - Free Report) by 68.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 584,348 shares of the company's stock after acquiring an additional 238,399 shares during the quarter. Invesco Ltd. owned approximately 0.82% of Valaris worth $25,852,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Arizona State Retirement System grew its stake in Valaris by 1.3% in the fourth quarter. Arizona State Retirement System now owns 19,002 shares of the company's stock worth $841,000 after purchasing an additional 237 shares in the last quarter. Xponance Inc. grew its position in shares of Valaris by 5.5% in the 4th quarter. Xponance Inc. now owns 9,273 shares of the company's stock worth $410,000 after acquiring an additional 487 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Valaris by 3.3% in the 4th 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 during the last quarter. Blue Trust Inc. increased its holdings in shares of Valaris by 41.0% in the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock valued at $78,000 after acquiring an additional 511 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in Valaris by 3.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,622 shares of the company's stock worth $735,000 after purchasing an additional 556 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Analysts Set New Price Targets

VAL has been the subject of a number of recent research reports. StockNews.com upgraded shares of Valaris to a "sell" rating in a research note on Thursday, February 20th. Citigroup cut their price target on Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Susquehanna reduced their price objective on Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Evercore ISI lowered Valaris from an "outperform" rating to an "in-line" rating and dropped their target price for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Finally, Barclays dropped their price objective on shares of Valaris from $46.00 to $35.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $50.33.

Valaris Stock Performance

VAL stock traded down $0.59 during midday trading on Wednesday, hitting $30.74. 1,122,291 shares of the company traded hands, compared to its average volume of 1,469,064. Valaris Limited has a twelve month low of $27.15 and a twelve month high of $84.20. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 5.97 and a beta of 1.06. 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 business has a 50 day simple moving average of $36.54 and a 200-day simple moving average of $43.60.

Valaris (NYSE:VAL - Get Free Report) last posted 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. The business had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. As a group, equities research analysts predict that Valaris Limited will post 3.96 earnings per share for the current 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.