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

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

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Quarry LP purchased a new position in Valaris in the third quarter worth $25,000. Signaturefd LLC grew its position 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 during the period. Blue Trust Inc. increased its holdings in Valaris by 41.0% during 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 last quarter. KBC Group NV increased its holdings in Valaris by 63.3% during the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock worth $130,000 after buying an additional 1,135 shares during the last quarter. Finally, Spire Wealth Management raised its position in Valaris by 24.3% in the fourth quarter. Spire Wealth Management now owns 4,206 shares of the company's stock worth $186,000 after acquiring an additional 821 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Valaris Price Performance

Shares of VAL traded down $4.88 during mid-day trading on Thursday, reaching $35.21. 1,555,397 shares of the stock traded hands, compared to its average volume of 1,824,837. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. Valaris Limited has a 1 year low of $31.15 and a 1 year high of $84.20. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 6.85 and a beta of 1.16. The firm has a fifty day moving average price of $41.75 and a 200 day moving average price of $46.26.

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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, beating the consensus estimate of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The firm had revenue of $584.40 million for the quarter, compared to analysts' expectations of $578.01 million. As a group, equities research analysts predict that Valaris Limited will post 3.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Susquehanna lowered their price target on shares of Valaris from $50.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. JPMorgan Chase & Co. assumed coverage on Valaris in a research report on Friday, December 6th. They set an "underweight" rating and a $40.00 price target on the stock. StockNews.com raised Valaris to a "sell" rating in a report on Thursday, February 20th. Citigroup dropped their price objective on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Finally, Evercore ISI downgraded shares of 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 research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to data from MarketBeat, Valaris presently has a consensus rating of "Hold" and a consensus target price of $54.33.

About Valaris

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.