Valaris Limited (NYSE:VAL) Stake Raised by Hara Capital LLC

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

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Valaris by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company's stock valued at $285,532,000 after purchasing an additional 23,509 shares in the last quarter. Lingotto Investment Management LLP boosted its stake in Valaris by 2.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,637,207 shares of the company's stock valued at $160,910,000 after buying an additional 87,420 shares during the period. Condire Management LP boosted its stake in Valaris by 34.1% during the fourth quarter. Condire Management LP now owns 2,618,678 shares of the company's stock valued at $115,850,000 after buying an additional 665,718 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 buying an additional 821,304 shares during the period. Finally, Northern Trust Corp boosted its stake in Valaris by 12.1% during the fourth quarter. Northern Trust Corp now owns 818,461 shares of the company's stock valued at $36,209,000 after buying an additional 88,160 shares during the period. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on VAL. Wall Street Zen raised Valaris to a "sell" rating in a research note on Tuesday, May 13th. Barclays lifted their price objective on Valaris from $35.00 to $37.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Susquehanna dropped their price objective on Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Evercore ISI dropped their price objective on Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Finally, Citigroup dropped their price target on Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $49.17.

Valaris Stock Down 3.9%

VAL stock traded down $1.53 during midday trading on Friday, hitting $37.66. The company's stock had a trading volume of 1,200,511 shares, compared to its average volume of 1,565,768. The firm's 50-day moving average is $35.17 and its 200-day moving average is $40.84. The company has a market cap of $2.68 billion, a PE ratio of 7.33 and a beta of 1.09. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. Valaris Limited has a 12 month low of $27.15 and a 12 month high of $84.20.

Valaris (NYSE:VAL - Get Free Report) last posted its quarterly earnings data 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 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. On average, equities research analysts forecast that Valaris Limited will post 3.96 earnings per share for the current fiscal year.

Valaris Company 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.