Valaris Limited (NYSE:VAL) is Valueworks LLC’s 6th Largest Position

Valueworks LLC decreased its position in shares of Valaris Limited (NYSE:VAL) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 329,922 shares of the company’s stock after selling 20,364 shares during the period. Valaris makes up approximately 4.9% of Valueworks LLC’s investment portfolio, making the stock its 6th biggest position. Valueworks LLC owned 0.46% of Valaris worth $14,596,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Teza Capital Management LLC purchased a new position in shares of Valaris in the fourth quarter valued at $923,000. Point72 Asset Management L.P. grew its stake in shares of Valaris by 376.7% in the 4th quarter. Point72 Asset Management L.P. now owns 96,023 shares of the company’s stock worth $4,248,000 after buying an additional 130,723 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Valaris by 38.4% in the 4th quarter. ProShare Advisors LLC now owns 20,430 shares of the company’s stock worth $904,000 after buying an additional 5,665 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Valaris by 0.3% in the 4th quarter. Nuveen Asset Management LLC now owns 184,318 shares of the company’s stock worth $8,154,000 after buying an additional 588 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Valaris in the 4th quarter worth $217,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on VAL. Barclays lifted their price target on Valaris from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Citigroup dropped their target price on Valaris from $48.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. StockNews.com raised shares of Valaris to a “sell” rating in a research note on Tuesday, May 13th. Evercore ISI dropped their price objective on shares of Valaris from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Finally, Susquehanna dropped their price target on shares of Valaris from $47.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, Valaris currently has an average rating of “Hold” and an average target price of $49.17.

Valaris Stock Down 2.5%

Shares of VAL opened at $37.30 on Tuesday. The firm has a market capitalization of $2.65 billion, a P/E ratio of 7.26 and a beta of 1.09. 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 12-month low of $27.15 and a 12-month high of $84.20. The firm has a fifty day moving average price of $35.50 and a 200-day moving average price of $41.53.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($1.63). Valaris had a net margin of 15.81% and a return on equity of 17.40%. The firm had revenue of $620.70 million during the quarter, compared to analysts’ expectations of $582.87 million. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts expect that Valaris Limited will post 3.96 earnings per share for the current year.

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.