Platinum Investment Management Ltd. Lowers Holdings in Valaris Limited (NYSE:VAL)

Platinum Investment Management Ltd. decreased its stake in shares of Valaris Limited (NYSE:VAL - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 814,110 shares of the company's stock after selling 42,520 shares during the period. Valaris comprises 2.1% of Platinum Investment Management Ltd.'s portfolio, making the stock its 15th largest holding. Platinum Investment Management Ltd. owned about 1.14% of Valaris worth $36,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in VAL. Arizona State Retirement System raised its position 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 acquiring an additional 237 shares during the period. Quarry LP purchased a new position in Valaris during the third quarter valued at $25,000. Xponance Inc. grew its holdings in 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 purchasing an additional 487 shares during the period. State of Michigan Retirement System increased 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 worth $686,000 after buying an additional 500 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Valaris by 41.0% in the fourth 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. Institutional investors own 96.74% of the company's stock.

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Valaris Trading Down 1.7 %

NYSE VAL traded down $0.68 on Friday, hitting $39.68. 1,774,690 shares of the stock were exchanged, compared to its average volume of 1,317,477. 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 52-week low of $31.15 and a 52-week high of $84.20. The firm has a market capitalization of $2.82 billion, a P/E ratio of 7.72 and a beta of 1.16. The stock has a fifty day moving average price of $43.07 and a two-hundred day moving average price of $47.12.

Valaris (NYSE:VAL - Get Free Report) last posted its quarterly earnings data 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. 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 analyst estimates of $578.01 million. Research analysts forecast that Valaris Limited will post 3.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on VAL shares. Citigroup cut their price target on Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday. StockNews.com raised Valaris to a "sell" rating in a research note on Thursday, February 20th. Susquehanna cut their price objective on shares of Valaris from $50.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Evercore ISI downgraded shares of Valaris from an "outperform" rating to an "in-line" rating and lowered their target price for the stock from $87.00 to $59.00 in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Valaris in a research note on Friday, December 6th. They set an "underweight" rating and a $40.00 target price for the company. Two investment 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 stock presently has an average rating of "Hold" and a consensus price target 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.