Hara Capital LLC Acquires 37,158 Shares of Valaris Limited (NYSE:VAL)

Hara Capital LLC lifted its stake in Valaris Limited (NYSE:VAL - Free Report) by 65.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,193 shares of the company's stock after buying an additional 37,158 shares during the period. Valaris makes up 2.7% of Hara Capital LLC's investment portfolio, making the stock its 6th largest holding. Hara Capital LLC owned about 0.13% of Valaris worth $4,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of VAL. Waverton Investment Management Ltd grew its position in shares of Valaris by 20.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company's stock valued at $37,412,000 after buying an additional 113,509 shares during the last quarter. State Street Corp boosted its stake in Valaris by 4.8% during the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company's stock worth $136,365,000 after purchasing an additional 112,216 shares during the period. Intech Investment Management LLC acquired a new stake in Valaris during the 3rd quarter worth $3,940,000. Geode Capital Management LLC boosted its stake in Valaris by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company's stock worth $84,736,000 after purchasing an additional 66,229 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in Valaris during the 3rd quarter worth $3,285,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Susquehanna decreased their price target on shares of Valaris from $61.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. Citigroup raised their price objective on shares of Valaris from $47.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Evercore ISI cut shares of Valaris from an "outperform" rating to an "in-line" rating and reduced their price objective for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. JPMorgan Chase & Co. assumed coverage on shares of Valaris in a report on Friday, December 6th. They set an "underweight" rating and a $40.00 target price for the company. Finally, Barclays restated an "equal weight" rating and set a $49.00 target price (down from $59.00) on shares of Valaris in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $56.83.

Valaris Trading Up 4.5 %

Shares of NYSE VAL traded up $1.94 during midday trading on Thursday, reaching $44.76. 1,986,301 shares of the stock were exchanged, compared to its average volume of 1,529,175. The company has a market capitalization of $3.18 billion, a P/E ratio of 3.08 and a beta of 1.10. Valaris Limited has a 52-week low of $39.90 and a 52-week high of $84.20. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $45.44 and a 200-day moving average price of $50.90.

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, topping analysts' consensus estimates 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 47.52% and a return on equity of 13.67%. Equities research analysts expect that Valaris Limited will post 4.59 earnings per share 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.