Condire Management LP Grows Stake in Valaris Limited (NYSE:VAL)

Condire Management LP increased its position in Valaris Limited (NYSE:VAL - Free Report) by 34.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,618,678 shares of the company's stock after buying an additional 665,718 shares during the period. Valaris accounts for approximately 16.8% of Condire Management LP's investment portfolio, making the stock its 2nd biggest holding. Condire Management LP owned about 3.68% of Valaris worth $115,850,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in VAL. Vanguard Group Inc. boosted its holdings in Valaris by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company's stock worth $285,532,000 after acquiring an additional 23,509 shares during the last quarter. Lingotto Investment Management LLP boosted its position in Valaris by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company's stock worth $160,910,000 after purchasing an additional 87,420 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Valaris by 55.5% during the 4th 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 last quarter. Northern Trust Corp raised its stake in shares of Valaris by 12.1% during the 4th 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 during the period. Finally, Waverton Investment Management Ltd boosted its holdings in shares of Valaris by 12.7% in the 4th quarter. Waverton Investment Management Ltd now owns 756,135 shares of the company's stock worth $33,451,000 after buying an additional 85,250 shares during the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on VAL. StockNews.com raised shares of Valaris to a "sell" rating in a research report on Thursday, February 20th. Susquehanna dropped their price objective on Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Evercore ISI lowered their target price on Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Citigroup cut their price target on Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Finally, Barclays boosted 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. 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 has a consensus rating of "Hold" and a consensus price target of $49.17.

Valaris Trading Up 3.7 %

Shares of Valaris stock opened at $36.78 on Wednesday. The company's 50-day moving average price is $34.99 and its 200-day moving average price is $42.31. 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 company has a market cap of $2.61 billion, a price-to-earnings ratio of 7.16 and a beta of 1.09.

Valaris (NYSE:VAL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $582.87 million. Valaris's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts expect 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.

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