Valaris Limited (NYSE:VAL) Stock Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Valaris Limited (NYSE:VAL - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 569,513 shares of the company's stock after selling 11,593 shares during the quarter. Bank of New York Mellon Corp owned about 0.80% of Valaris worth $22,359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Victory Capital Management Inc. increased its stake in Valaris by 94.4% during the 4th quarter. Victory Capital Management Inc. now owns 11,980 shares of the company's stock worth $530,000 after buying an additional 5,816 shares during the period. Raymond James Financial Inc. purchased a new stake in Valaris during the 4th quarter worth $875,000. HighTower Advisors LLC increased its stake in Valaris by 11.9% during the 4th quarter. HighTower Advisors LLC now owns 11,742 shares of the company's stock worth $519,000 after buying an additional 1,252 shares during the period. Swiss National Bank increased its stake in Valaris by 1.1% during the 4th quarter. Swiss National Bank now owns 128,700 shares of the company's stock worth $5,694,000 after buying an additional 1,400 shares during the period. Finally, Signaturefd LLC increased its stake in Valaris by 395.0% during the 4th quarter. Signaturefd LLC now owns 1,475 shares of the company's stock worth $65,000 after buying an additional 1,177 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.

Valaris Stock Down 0.8%

Shares of VAL traded down $0.40 during midday trading on Friday, hitting $46.98. The company had a trading volume of 961,550 shares, compared to its average volume of 1,620,478. The company's 50 day moving average price is $42.62 and its 200 day moving average price is $40.83. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 11.03 and a beta of 1.15. Valaris Limited has a 52 week low of $27.15 and a 52 week high of $84.20. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.49.

Valaris (NYSE:VAL - Get Free Report) last released its earnings results 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). Valaris had a return on equity of 14.14% and a net margin of 12.61%. The company had revenue of $620.70 million during the quarter, compared to the consensus estimate of $582.87 million. Valaris's quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts predict that Valaris Limited will post 3.96 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on VAL. Wall Street Zen raised shares of Valaris to a "sell" rating in a research note on Tuesday, May 13th. Citigroup reaffirmed a "neutral" rating and set a $50.00 price target (up previously from $47.00) on shares of Valaris in a research note on Thursday, July 10th. Evercore ISI dropped their price target on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Barclays lifted their price target on shares of Valaris from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, BTIG Research reissued a "buy" rating on shares of Valaris in a research report on Monday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $52.50.

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.