BNP Paribas Financial Markets Acquires New Position in Valaris Limited (NYSE:VAL)

BNP Paribas Financial Markets bought a new stake in shares of Valaris Limited (NYSE:VAL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 56,757 shares of the company's stock, valued at approximately $2,511,000. BNP Paribas Financial Markets owned 0.08% of Valaris at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of VAL. Quarry LP lifted its holdings in shares of Valaris by 51.7% in the 4th quarter. Quarry LP now owns 684 shares of the company's stock worth $30,000 after buying an additional 233 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Valaris by 518.3% in the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock valued at $33,000 after acquiring an additional 622 shares in the last quarter. Signaturefd LLC lifted its stake in Valaris by 395.0% in the fourth quarter. Signaturefd LLC now owns 1,475 shares of the company's stock worth $65,000 after acquiring an additional 1,177 shares during the period. Blue Trust Inc. lifted its stake in Valaris by 41.0% in the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock worth $78,000 after acquiring an additional 511 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Valaris by 326.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company's stock valued at $83,000 after purchasing an additional 1,435 shares during the period. Institutional investors own 96.74% of the company's stock.

Valaris Price Performance

Shares of NYSE:VAL traded down $0.72 during trading on Wednesday, reaching $36.74. 554,697 shares of the company's stock traded hands, compared to its average volume of 1,545,722. The firm has a market cap of $2.61 billion, a PE ratio of 7.14 and a beta of 1.09. Valaris Limited has a fifty-two week low of $27.15 and a fifty-two week high of $84.20. The company has a 50-day simple moving average of $35.52 and a 200-day simple moving average of $41.51. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48.

Valaris (NYSE:VAL - Get Free Report) last released its 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 firm had revenue of $620.70 million during the quarter, compared to analysts' expectations of $582.87 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The business's revenue was up 6.2% compared to the same quarter last year. As a group, analysts predict that Valaris Limited will post 3.96 earnings per share for the current year.

Analyst Ratings Changes

VAL has been the subject of several research reports. Evercore ISI lowered their price target on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Citigroup lowered 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. Barclays raised their target price on Valaris from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Susquehanna cut their price target on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, StockNews.com raised shares of Valaris to a "sell" rating in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $49.17.

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.