Ameriprise Financial Inc. Boosts Holdings in Valaris Limited (NYSE:VAL)

Ameriprise Financial Inc. boosted its holdings in shares of Valaris Limited (NYSE:VAL - Free Report) by 27.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,762 shares of the company's stock after purchasing an additional 19,580 shares during the period. Ameriprise Financial Inc. owned about 0.13% of Valaris worth $3,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VAL. Dimensional Fund Advisors LP lifted its position in Valaris by 55.5% during 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 fourth quarter valued at $31,949,000. Renaissance Technologies LLC acquired a new position in Valaris during the fourth quarter valued at $21,747,000. AQR Capital Management LLC lifted its position in Valaris by 942.1% during the fourth quarter. AQR Capital Management LLC now owns 381,463 shares of the company's stock valued at $16,502,000 after purchasing an additional 344,857 shares during the period. Finally, Wolf Hill Capital Management LP acquired a new position in Valaris during the fourth quarter valued at $13,139,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Valaris Price Performance

NYSE VAL traded down $1.53 during trading hours on Friday, hitting $37.66. 1,200,511 shares of the company's stock traded hands, compared to its average volume of 1,569,198. Valaris Limited has a 52-week low of $27.15 and a 52-week high of $84.20. The company has a market capitalization of $2.68 billion, a PE ratio of 7.33 and a beta of 1.09. 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 firm's 50-day moving average is $35.17 and its 200-day moving average is $40.78.

Valaris (NYSE:VAL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.53) earnings per share (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 business had revenue of $620.70 million for the quarter, compared to analysts' expectations of $582.87 million. The firm's revenue was up 6.2% on a year-over-year basis. Equities analysts forecast that Valaris Limited will post 3.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup decreased their price objective on shares of Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Wall Street Zen upgraded shares of Valaris to a "sell" rating in a research report on Tuesday, May 13th. Susquehanna decreased their price objective on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Barclays upped their price objective on shares of Valaris from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, Evercore ISI decreased their price objective 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. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Valaris presently has an average rating of "Hold" and an average target price of $49.17.

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.