Valaris Limited (NYSE:VAL) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its stake in Valaris Limited (NYSE:VAL - Free Report) by 221.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 302,200 shares of the company's stock after acquiring an additional 208,200 shares during the period. Canada Pension Plan Investment Board owned about 0.42% of Valaris worth $13,369,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. raised its position in Valaris by 4.6% in the third quarter. Franklin Resources Inc. now owns 37,429 shares of the company's stock valued at $1,956,000 after purchasing an additional 1,634 shares during the period. Retirement Systems of Alabama boosted its holdings in Valaris by 2.2% during the 3rd quarter. Retirement Systems of Alabama now owns 190,025 shares of the company's stock valued at $10,594,000 after acquiring an additional 4,065 shares during the period. City Center Advisors LLC acquired a new position in Valaris in the 4th quarter valued at about $319,000. Moody National Bank Trust Division purchased a new stake in Valaris during the fourth quarter worth about $416,000. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of Valaris during the fourth quarter worth about $409,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VAL has been the topic of several recent research reports. Evercore ISI downgraded shares of Valaris from an "outperform" rating to an "in-line" rating and cut their target price for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. Barclays lowered their target price 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. Susquehanna decreased their price objective on Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. StockNews.com raised shares of Valaris to a "sell" rating in a report on Thursday, February 20th. Finally, Citigroup lowered their price target on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $50.33.

Valaris Stock Up 1.8 %

Shares of NYSE:VAL traded up $0.58 during trading on Friday, hitting $32.96. 974,845 shares of the company were exchanged, compared to its average volume of 1,480,612. The firm's 50 day moving average price is $35.79 and its 200-day moving average price is $43.20. Valaris Limited has a 12-month low of $27.15 and a 12-month high of $84.20. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. The stock has a market capitalization of $2.34 billion, a P/E ratio of 6.41 and a beta of 1.06.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The company had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. On average, research analysts predict that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Valaris 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.