Bayesian Capital Management LP Cuts Position in Valaris Limited (NYSE:VAL)

Bayesian Capital Management LP reduced its stake in shares of Valaris Limited (NYSE:VAL - Free Report) by 37.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,613 shares of the company's stock after selling 15,800 shares during the quarter. Bayesian Capital Management LP's holdings in Valaris were worth $1,177,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Valaris by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company's stock valued at $285,532,000 after buying an additional 23,509 shares during the last quarter. Lingotto Investment Management LLP boosted its stake in Valaris by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company's stock valued at $160,910,000 after acquiring an additional 87,420 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Valaris by 55.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock worth $101,771,000 after purchasing an additional 821,304 shares during the last quarter. Northern Trust Corp increased its position in shares of Valaris by 12.1% during the fourth quarter. Northern Trust Corp now owns 818,461 shares of the company's stock worth $36,209,000 after purchasing an additional 88,160 shares in the last quarter. Finally, Waverton Investment Management Ltd lifted its holdings in shares of Valaris by 12.7% during the 4th quarter. Waverton Investment Management Ltd now owns 756,135 shares of the company's stock valued at $33,451,000 after purchasing an additional 85,250 shares during the last quarter. Institutional investors own 96.74% of the company's stock.

Valaris Stock Up 1.0 %

VAL stock opened at $35.92 on Monday. The company has a market capitalization of $2.55 billion, a P/E ratio of 6.99 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 firm's fifty day simple moving average is $35.02 and its 200-day simple moving average is $42.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61.

Valaris (NYSE:VAL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $1.10 by ($1.63). The company had revenue of $620.70 million for the quarter, compared to analyst estimates of $582.87 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The firm's quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Valaris Limited will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VAL. Susquehanna reduced their target price on Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Citigroup decreased their price objective on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Barclays dropped their target price on shares of Valaris from $46.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Evercore ISI decreased their price target on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a report on Friday. Finally, StockNews.com raised shares of Valaris to a "sell" rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Valaris presently has an average rating of "Hold" and an average target price of $48.83.

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.

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