Valaris Limited (NYSE:VAL) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its position in Valaris Limited (NYSE:VAL - Free Report) by 575.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,911 shares of the company's stock after acquiring an additional 15,260 shares during the period. Exchange Traded Concepts LLC's holdings in Valaris were worth $703,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Valaris by 41.0% in the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock valued at $78,000 after buying an additional 511 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Valaris by 44.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 45,231 shares of the company's stock worth $2,001,000 after purchasing an additional 13,840 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Valaris by 22.1% during the 4th quarter. Private Advisor Group LLC now owns 6,747 shares of the company's stock worth $298,000 after purchasing an additional 1,223 shares during the period. Olympiad Research LP acquired a new position in shares of Valaris during the 4th quarter worth $247,000. Finally, Waverton Investment Management Ltd increased 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 valued at $33,451,000 after purchasing an additional 85,250 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on VAL shares. Barclays upped their target price 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. Evercore ISI lowered 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, May 2nd. Wall Street Zen raised Valaris to a "sell" rating in a report on Tuesday, May 13th. Citigroup reissued a "neutral" rating and issued a $47.00 target price (up previously from $44.00) on shares of Valaris in a report on Wednesday, June 18th. Finally, Susquehanna cut their price target on Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Valaris presently has an average rating of "Hold" and a consensus target price of $49.67.

Valaris Trading Down 3.9%

Shares of VAL stock traded down $1.69 during mid-day trading on Tuesday, hitting $41.76. 2,141,609 shares of the company's stock were exchanged, compared to its average volume of 1,599,396. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 9.80 and a beta of 1.13. 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 Limited has a fifty-two week low of $27.15 and a fifty-two week high of $84.20. The stock has a 50-day simple moving average of $38.12 and a two-hundred day simple moving average of $40.41.

Valaris (NYSE:VAL - Get Free Report) last posted 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 12.61% and a return on equity of 14.14%. The business had revenue of $620.70 million during the quarter, compared to analysts' expectations of $582.87 million. The business's revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts expect that Valaris Limited will post 3.96 EPS 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.