Valaris Limited (NYSE:VAL) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in Valaris Limited (NYSE:VAL - Free Report) by 63.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,573 shares of the company's stock after purchasing an additional 7,234 shares during the period. Envestnet Asset Management Inc.'s holdings in Valaris were worth $822,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Franklin Resources Inc. increased its holdings in shares of Valaris by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 37,429 shares of the company's stock worth $1,956,000 after buying an additional 1,634 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Valaris by 2.2% during the 3rd quarter. Retirement Systems of Alabama now owns 190,025 shares of the company's stock worth $10,594,000 after purchasing an additional 4,065 shares during the last quarter. City Center Advisors LLC acquired a new position in Valaris in the fourth quarter valued at about $319,000. Moody National Bank Trust Division acquired a new stake in shares of Valaris during the fourth quarter valued at about $416,000. Finally, 180 Wealth Advisors LLC acquired a new position in shares of Valaris in the 4th quarter worth approximately $409,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Valaris Stock Up 3.7 %

Shares of NYSE:VAL traded up $1.30 during trading on Tuesday, hitting $36.78. 2,696,072 shares of the company were exchanged, compared to its average volume of 1,517,360. The firm's 50 day moving average price is $34.98 and its 200-day moving average price is $42.35. 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 $2.61 billion, a P/E 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) earnings per share for the quarter, missing analysts' consensus estimates of $1.10 by ($1.63). Valaris had a net margin of 15.81% and a return on equity of 17.40%. The company had revenue of $620.70 million during the quarter, compared to analysts' expectations of $582.87 million. Valaris's revenue was up 6.2% compared to the same quarter last year. On average, research analysts predict that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on VAL. Barclays boosted their price objective on Valaris from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Monday. Citigroup reduced their target price on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Susquehanna decreased their target price on Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Evercore ISI cut their price target on Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a report on Friday. Finally, StockNews.com upgraded Valaris to a "sell" rating in a research note on Thursday, February 20th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $49.17.

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.