Wellington Management Group LLP Has $41.83 Million Stock Position in Valaris Limited (NYSE:VAL)

Wellington Management Group LLP lowered its stake in Valaris Limited (NYSE:VAL - Free Report) by 34.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 945,508 shares of the company's stock after selling 500,059 shares during the period. Wellington Management Group LLP owned 1.33% of Valaris worth $41,829,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of VAL. Norges Bank bought a new stake in shares of Valaris in the 4th quarter worth about $31,949,000. River Road Asset Management LLC increased its position in shares of Valaris by 178.9% in the 4th quarter. River Road Asset Management LLC now owns 409,196 shares of the company's stock worth $18,103,000 after purchasing an additional 262,468 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Valaris in the 4th quarter worth about $10,578,000. Packer & Co Ltd acquired a new position in shares of Valaris in the 4th quarter valued at about $8,981,000. Finally, State Street Corp grew its position in shares of Valaris by 4.8% during the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company's stock valued at $136,365,000 after buying an additional 112,216 shares during the last quarter. Institutional investors own 96.74% of the company's stock.

Valaris Trading Down 9.5 %

Shares of NYSE:VAL traded down $3.17 during mid-day trading on Thursday, hitting $30.11. The stock had a trading volume of 923,269 shares, compared to its average volume of 1,427,299. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. The company has a market cap of $2.14 billion, a PE ratio of 5.87 and a beta of 1.06. Valaris Limited has a 12-month low of $27.15 and a 12-month high of $84.20. The company's 50 day moving average is $39.38 and its 200-day moving average is $45.14.

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Valaris (NYSE:VAL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.20 by $0.68. The business had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. On average, sell-side analysts predict that Valaris Limited will post 3.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Susquehanna dropped their price objective on shares of Valaris from $50.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Barclays dropped their price objective on shares of Valaris from $46.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Monday. 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 research note on Wednesday, March 19th. StockNews.com upgraded shares of Valaris to a "sell" rating in a research note on Thursday, February 20th. Finally, Evercore ISI cut shares of Valaris from an "outperform" rating to an "in-line" rating and decreased their target price for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat.com, Valaris presently has an average rating of "Hold" and an average price target of $52.50.

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.