Anthracite Investment Company Inc. Cuts Holdings in Valaris Limited (NYSE:VAL)

Anthracite Investment Company Inc. lowered its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 23.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,000 shares of the company's stock after selling 7,700 shares during the quarter. Anthracite Investment Company Inc.'s holdings in Valaris were worth $1,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Arizona State Retirement System lifted its stake in Valaris by 1.3% in the 4th 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. Quarry LP acquired a new stake in shares of Valaris in the third quarter valued at approximately $25,000. Xponance Inc. lifted its position in Valaris by 5.5% during the fourth quarter. Xponance Inc. now owns 9,273 shares of the company's stock worth $410,000 after buying an additional 487 shares in the last quarter. State of Michigan Retirement System boosted its stake in Valaris by 3.3% during 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 during the last quarter. Finally, Blue Trust Inc. grew its holdings in 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 buying an additional 511 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company's stock.

Valaris Trading Down 2.3 %

NYSE VAL traded down $0.94 on Friday, reaching $39.44. The stock had a trading volume of 1,131,948 shares, compared to its average volume of 1,362,019. 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 stock has a fifty day moving average price of $42.25 and a two-hundred day moving average price of $46.56. Valaris Limited has a 12-month low of $31.15 and a 12-month high of $84.20. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 7.67 and a beta of 1.16.

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, topping the consensus estimate of $1.20 by $0.68. The firm had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. As a group, sell-side analysts forecast that Valaris Limited will post 3.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on VAL. StockNews.com upgraded Valaris to a "sell" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. assumed coverage on shares of Valaris in a report on Friday, December 6th. They issued an "underweight" rating and a $40.00 target price on the stock. Citigroup cut their price target on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Susquehanna decreased their price objective on Valaris from $50.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Finally, Barclays cut their target price on Valaris from $49.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 25th. Two investment 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.com, the stock currently has an average rating of "Hold" and a consensus 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.