Concentric Capital Strategies LP Takes Position in Valaris Limited (NYSE:VAL)

Concentric Capital Strategies LP bought a new stake in Valaris Limited (NYSE:VAL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 87,741 shares of the company's stock, valued at approximately $3,882,000. Concentric Capital Strategies LP owned about 0.12% of Valaris at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of VAL. Dimensional Fund Advisors LP raised its position in Valaris by 55.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock valued at $101,771,000 after purchasing an additional 821,304 shares during the period. Norges Bank acquired a new position in Valaris during the 4th quarter worth about $31,949,000. Condire Management LP grew its position in Valaris by 34.1% in the 4th quarter. Condire Management LP now owns 2,618,678 shares of the company's stock valued at $115,850,000 after acquiring an additional 665,718 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Valaris during the fourth quarter worth about $21,747,000. Finally, AQR Capital Management LLC lifted its position in shares of Valaris by 942.1% during the fourth quarter. AQR Capital Management LLC now owns 381,463 shares of the company's stock worth $16,502,000 after purchasing an additional 344,857 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company's stock.

Valaris Stock Performance

Shares of VAL stock traded up $0.85 during mid-day trading on Friday, hitting $38.32. 1,370,375 shares of the stock were exchanged, compared to its average volume of 1,523,561. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 7.46 and a beta of 1.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. Valaris Limited has a 12-month low of $27.15 and a 12-month high of $84.20. The stock's fifty day simple moving average is $35.18 and its two-hundred day simple moving average is $42.09.

Valaris (NYSE:VAL - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $582.87 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. Valaris's quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts forecast that Valaris Limited will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VAL. StockNews.com raised shares of Valaris to a "sell" rating in a research note on Thursday, February 20th. Susquehanna cut their price objective on Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Barclays lifted their price objective on Valaris from $35.00 to $37.00 and gave the company an "equal weight" rating in a research note on Monday. Evercore ISI reduced their price objective on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Finally, Citigroup cut their price target on Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price 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.