Advisory Services Network LLC Makes New $338,000 Investment in Valaris Limited (NYSE:VAL)

Advisory Services Network LLC acquired a new stake in Valaris Limited (NYSE:VAL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,639 shares of the company’s stock, valued at approximately $338,000.

Several other large investors have also modified their holdings of VAL. RiverGlades Family Offices LLC purchased a new stake in Valaris in the 4th quarter valued at $230,000. Amitell Capital Pte Ltd acquired a new position in Valaris in the fourth quarter valued at $1,080,000. Renaissance Technologies LLC purchased a new stake in shares of Valaris in the fourth quarter valued at about $21,747,000. Invesco Ltd. boosted its stake in shares of Valaris by 68.9% during the fourth quarter. Invesco Ltd. now owns 584,348 shares of the company’s stock worth $25,852,000 after buying an additional 238,399 shares during the period. Finally, Cerity Partners LLC purchased a new position in shares of Valaris during the fourth quarter worth about $222,000. 96.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on VAL shares. Barclays reduced their price objective on Valaris from $46.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. Evercore ISI downgraded Valaris from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $87.00 to $59.00 in a report on Wednesday, January 15th. Citigroup lowered their price objective on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. StockNews.com upgraded shares of Valaris to a “sell” rating in a research report on Thursday, February 20th. Finally, Susquehanna lowered their target price on shares of Valaris from $47.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, Valaris currently has a consensus rating of “Hold” and an average target price of $50.33.

Valaris Trading Up 6.0 %

NYSE:VAL opened at $31.90 on Friday. Valaris Limited has a 52-week low of $27.15 and a 52-week high of $84.20. 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 simple moving average of $37.44 and a 200-day simple moving average of $44.19. The company has a market capitalization of $2.27 billion, a PE ratio of 6.21 and a beta of 1.06.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.68. The company had revenue of $584.40 million during the quarter, compared to analysts’ expectations of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. On average, equities research analysts expect that Valaris Limited will post 3.96 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.