Quinn Opportunity Partners LLC Takes Position in Valaris Limited (NYSE:VAL)

Quinn Opportunity Partners LLC acquired a new position in Valaris Limited (NYSE:VAL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,000 shares of the company's stock, valued at approximately $1,283,000.

A number of other hedge funds have also made changes to their positions in VAL. Quarry LP bought a new stake in shares of Valaris in the 3rd quarter worth about $25,000. Signaturefd LLC raised its stake in Valaris by 395.0% during the fourth quarter. Signaturefd LLC now owns 1,475 shares of the company's stock valued at $65,000 after buying an additional 1,177 shares in the last quarter. Blue Trust Inc. raised its stake 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 buying an additional 511 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Valaris by 326.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company's stock worth $83,000 after buying an additional 1,435 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Valaris by 40.1% in the 4th quarter. Covestor Ltd now owns 1,911 shares of the company's stock worth $85,000 after acquiring an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on VAL shares. Barclays decreased their price target 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. Susquehanna reduced their price target on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a report on Monday. Evercore ISI downgraded shares of Valaris from an "outperform" rating to an "in-line" rating and cut their price objective for the company from $87.00 to $59.00 in a research report on Wednesday, January 15th. Citigroup dropped their price target 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, StockNews.com upgraded Valaris to a "sell" rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $50.33.

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Valaris Price Performance

VAL traded down $0.28 during trading on Wednesday, reaching $30.09. The stock had a trading volume of 1,239,034 shares, compared to its average volume of 2,011,847. Valaris Limited has a 1-year low of $27.15 and a 1-year high of $84.20. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 5.85 and a beta of 1.06. The stock has a 50 day moving average of $38.07 and a two-hundred day moving average of $44.45. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48.

Valaris (NYSE:VAL - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The firm had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. As a group, equities analysts anticipate 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.