Hara Capital LLC Buys 37,158 Shares of Valaris Limited (NYSE:VAL)

Hara Capital LLC increased its holdings in Valaris Limited (NYSE:VAL - Free Report) by 65.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,193 shares of the company's stock after acquiring an additional 37,158 shares during the quarter. Valaris makes up about 2.6% of Hara Capital LLC's investment portfolio, making the stock its 7th largest position. Hara Capital LLC owned approximately 0.13% of Valaris worth $4,167,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Valaris by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company's stock worth $285,532,000 after purchasing an additional 23,509 shares in the last quarter. Lingotto Investment Management LLP raised its holdings in Valaris by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company's stock worth $160,910,000 after purchasing an additional 87,420 shares in the last quarter. Condire Management LP raised its holdings in Valaris by 34.1% in the fourth quarter. Condire Management LP now owns 2,618,678 shares of the company's stock worth $115,850,000 after purchasing an additional 665,718 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Valaris by 55.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock worth $101,771,000 after purchasing an additional 821,304 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Valaris by 12.1% in the fourth quarter. Northern Trust Corp now owns 818,461 shares of the company's stock worth $36,209,000 after purchasing an additional 88,160 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VAL shares. Evercore ISI cut their price objective on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Citigroup cut their price objective 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 cut their price objective on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wall Street Zen upgraded shares of Valaris to a "sell" rating in a report on Tuesday, May 13th. Finally, Barclays upped their target price on Valaris from $35.00 to $37.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $49.17.

Valaris Stock Performance

Shares of Valaris stock traded down $1.53 during trading hours on Friday, hitting $37.66. 1,200,511 shares of the company were exchanged, compared to its average volume of 1,569,198. Valaris Limited has a 1 year low of $27.15 and a 1 year high of $84.20. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average of $35.17 and a 200-day moving average of $40.71. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 7.33 and a beta of 1.09.

Valaris (NYSE:VAL - Get Free Report) last released 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 return on equity of 17.40% and a net margin of 15.81%. The company had revenue of $620.70 million for the quarter, compared to analysts' expectations of $582.87 million. The business's revenue was up 6.2% compared to the same quarter last year. As a group, analysts expect that Valaris Limited will post 3.96 EPS for the current fiscal year.

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.