Corebridge Financial Inc. Sells 7,616 Shares of Valaris Limited (NYSE:VAL)

Corebridge Financial Inc. decreased its holdings in shares of Valaris Limited (NYSE:VAL - Free Report) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,230 shares of the company's stock after selling 7,616 shares during the period. Corebridge Financial Inc. owned 0.15% of Valaris worth $4,611,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quarry LP bought a new position in Valaris during the 3rd quarter valued at approximately $25,000. Signaturefd LLC increased its holdings in shares of 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 acquiring an additional 1,177 shares in the last quarter. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 511 shares during the last quarter. KBC Group NV boosted its stake in Valaris by 63.3% in the 4th quarter. KBC Group NV now owns 2,929 shares of the company's stock worth $130,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in Valaris by 24.3% in the 4th quarter. Spire Wealth Management now owns 4,206 shares of the company's stock worth $186,000 after purchasing an additional 821 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Stock Performance

Shares of VAL stock traded down $5.01 on Friday, reaching $29.49. The stock had a trading volume of 5,780,783 shares, compared to its average volume of 1,390,963. The stock has a market cap of $2.09 billion, a P/E ratio of 5.74 and a beta of 1.16. 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 $29.41 and a 1 year high of $84.20. The company has a 50 day simple moving average of $41.07 and a 200 day simple moving average of $46.00.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly 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. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The business had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. Equities research analysts expect that Valaris Limited will post 3.96 EPS for the current year.

Analysts Set New Price Targets

VAL has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Valaris from $49.00 to $46.00 and set an "equal weight" rating for the company in a report on Tuesday, February 25th. 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. Evercore ISI lowered Valaris from an "outperform" rating to an "in-line" rating and reduced their target price for the stock from $87.00 to $59.00 in a report on Wednesday, January 15th. Susquehanna lowered their price target on Valaris from $50.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. began coverage on Valaris in a research report on Friday, December 6th. They set an "underweight" rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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.