Exchange Traded Concepts LLC Purchases 15,260 Shares of Valaris Limited (NYSE:VAL)

Exchange Traded Concepts LLC raised its stake in shares of Valaris Limited (NYSE:VAL - Free Report) by 575.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,911 shares of the company's stock after buying an additional 15,260 shares during the quarter. Exchange Traded Concepts LLC's holdings in Valaris were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of VAL. Blue Trust Inc. grew its holdings in shares of Valaris by 41.0% in the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock valued at $78,000 after purchasing an additional 511 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Valaris by 44.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 45,231 shares of the company's stock valued at $2,001,000 after purchasing an additional 13,840 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Valaris by 22.1% in the fourth quarter. Private Advisor Group LLC now owns 6,747 shares of the company's stock valued at $298,000 after purchasing an additional 1,223 shares in the last quarter. Olympiad Research LP purchased a new position in shares of Valaris in the fourth quarter valued at $247,000. Finally, Waverton Investment Management Ltd lifted its position in Valaris by 12.7% in the fourth 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 hedge funds and other institutional investors.

Valaris Trading Down 0.8%

Shares of NYSE:VAL traded down $0.37 on Friday, hitting $45.35. 1,463,400 shares of the company's stock were exchanged, compared to its average volume of 1,599,948. Valaris Limited has a 12 month low of $27.15 and a 12 month high of $84.20. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 10.64 and a beta of 1.13. The business's 50 day simple moving average is $37.87 and its two-hundred day simple moving average is $40.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.67 and a quick ratio of 1.67.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $620.70 million during the quarter, compared to the consensus estimate of $582.87 million. Valaris had a net margin of 12.61% and a return on equity of 14.14%. The business's quarterly revenue was up 6.2% compared to the same quarter last year. Analysts anticipate that Valaris Limited will post 3.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VAL. Susquehanna lowered their price target on Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Wall Street Zen upgraded Valaris to a "sell" rating in a research report on Tuesday, May 13th. Barclays raised their price target on Valaris from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Citigroup restated a "neutral" rating and issued a $47.00 price target (up from $44.00) on shares of Valaris in a research report on Wednesday. Finally, Evercore ISI lowered their price target on 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 equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $49.67.

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.